The company is also interested in how the protocol that has the Bitcoin community buzzing might promote software development, according to MicroStrategy co-founder and executive chairman Michael Saylor, who also knows about Ordinals.
Michael Saylor Turns His Course to Bitcoin Ordinals
Saylor revealed that the software company is looking into Ordinals and evaluating its potential in terms of application development in an interview at Bitcoin 2023 in Miami.
Saylor didn’t disclose explicitly what use cases MicroStrategy would be investigating that employ Ordinals, but he highlighted there are numerous possible uses for the ability to commit data to Bitcoin’s blockchain that aren’t just linked to transactions.
The whole idea of burning a piece of data on the blockchain opens the door to the possibility that I might burn a digital signature, or I might burn a registration, or I might burn a hash of a document,
Saylor
DocuSign
Speaking of corporate security, Saylor brought up DocuSign, which uses its electronic signature software to enable both businesses and people to send and securely sign contracts. However, Saylor pointed out that this renders large corporations dependent on a confidential database.
The world’s largest cryptocurrency might potentially be used in innovations that give businesses a new degree of security that isn’t now possible because organizations currently have weak security in comparison to Bitcoin, according to Saylor.
About Ordinals
Ordinals started in January and is frequently used to build NFT-like assets on top of Bitcoin. Although the Bitcoin community has not fully embraced the protocol, it has sparked a fresh round of experimentation with the original cryptocurrency.
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