According to BlockBeats, MicroStrategy, under the leadership of Executive Chairman Michael Saylor, announced on May 2nd that it is developing a Decentralized Identity (DID) protocol. The protocol is being built on the Ordinals protocol, as stated by the company on a social platform.
MicroStrategy, a leading business intelligence company, is venturing into the decentralized technology space with this move. The development of a DID protocol indicates the company's commitment to leveraging blockchain technology for secure and decentralized digital identities. The Ordinals protocol, on which the DID protocol is being built, is a well-established framework in the blockchain industry.
The announcement by Michael Saylor, the Executive Chairman of MicroStrategy, signifies a significant shift in the company's strategic direction. The development of a DID protocol based on the Ordinals protocol is a clear indication of the company's belief in the potential of decentralized technology. This move could potentially influence other companies in the industry to explore and adopt decentralized technologies.
However, further details about the development of the DID protocol and its potential applications have not been disclosed yet. The blockchain community is eagerly awaiting more information about this project and its potential impact on the industry.