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TL;DR
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MicroStrategy, the company that owns 214,000 Bitcoins, is building a decentralized identity protocol on top of Bitcoin…
Full Story
Ok so, love it or hate it…
Things being built on the Bitcoin network carry more weight than any other chain.
And before you throw any accusations around:
This isn’t coming from a place of bias – more from a place of “the Bitcoin network has more value (and therefore, more attention) than any other blockchain network out there.”
So if a feature pops up on Bitcoin — by the numbers — it’s more likely to be adopted.
Now, with that in mind, consider this…
MicroStrategy, the company that owns 214,000 Bitcoins, is building a decentralized identity protocol on top of Bitcoin…
Translation: you will soon be able to prove your identity once via the ‘MicroStrategy Orange Decentralized Identity Protocol,’ then never have to show ID online ever again.
(That’s the idea at least).
Online platforms will first need to start accepting the Orange Identity Protocol’s proof of ID as a standard…
Which is a tall task!
But as we said at the top, things being built on the Bitcoin network carry more weight than any other chain.
Which means the Orange ID Protocol has a head start against the rest…
And the idea of all our personal info NOT being stored across multiple (potentially vulnerable) online databases?
That’s a pretty cool concept.
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