MicroStrategy co-founder and Executive Chairman Michael Saylor expressed his enthusiasm for exploring the potential of Ordinals in application development. Saylor’s visionary approach aims to leverage the unique capabilities of Ordinals to enhance MicroStrategy’s services and drive technological innovation.
During a recent interview at Bitcoin 2023 in Miami, Saylor emphasized the importance of staying at the forefront of technological advancements and their impact on business innovation. He highlighted how MicroStrategy has always been committed to leveraging cutting-edge technologies to drive its success. Saylor believes that exploring the potential of Ordinals aligns with the company’s vision of utilizing emerging technologies for application development.
Exploring the Power of Ordinals
In the interview, Michael Saylor informed Decrypt that the software firm is currently assessing the potential of Ordinals for application development.
Ordinals, launched in January, enables the creation of NFT-like assets on top of Bitcoin, sparking new experimentation within the crypto community.
Ordinals, a protocol that has gained increasing attention in the cryptocurrency space, has caught the interest of MicroStrategy. Saylor stated that the company is actively researching and evaluating Ordinals to determine its viability and potential use cases for application development. This move reflects MicroStrategy’s continuous pursuit of innovation and dedication to staying ahead in the ever-evolving digital landscape.
A test-bed framework for creating tokens on top of Bitcoin is a recent breakthrough in the area that uses Ordinals.
Since it was invented by the anonymous on-chain data enthusiast Domo, thousands of others known as BRC-20 tokens have been produced.
Saylor shared his enthusiasm about the possibilities offered by Ordinals. He believed that the protocol holds promising prospects, particularly in app development. Saylor’s optimistic outlook stems from the unique features and capabilities of Ordinals, which he believes can enhance the functionality and performance of applications in various industries.
“Right now, enterprises have weak security compared to Bitcoin.”
MicroStrategy’s exploration of Ordinals aligns with the company’s overall strategy of integrating blockchain technology into its operations. Saylor has been a vocal advocate of Bitcoin and has spearheaded MicroStrategy’s significant investments in cryptocurrency. With this recent focus on Ordinals, MicroStrategy is committed to exploring other innovative blockchain solutions beyond Bitcoin.
Saylor emphasized the significance of the Ordinals discussion, stating that the long-term success of Bitcoin miners is crucial. He further mentioned that the development of applications leveraging Bitcoin’s functionality could enhance the overall adoption of the coin by individuals, firms, and governments.
“The discussion surrounding Ordinals is important because Bitcoin miners have to be successful over the long term.”
A Commitment to Innovation
As of the date of this news article, MicroStrategy has yet to disclose specific details about its plans for implementing Ordinals in its application development process. However, the company’s proactive approach to researching and evaluating the protocol indicates its determination to leverage the potential benefits that Ordinals may offer.
Saylor mentioned its potential for various applications beyond transaction-related data, highlighting the versatility of Bitcoin’s blockchain.
“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 a registration, or a hash of a document,”
MicroStrategy co-founder and Executive Chairman Michael Saylor has revealed the company’s interest in Ordinals and its potential for application development. By actively researching and assessing the protocol, MicroStrategy aims to incorporate innovative solutions into its operations, staying true to its commitment to technological advancement. As the future unfolds, it will be intriguing to see how MicroStrategy leverages Ordinals to enhance its application development capabilities further.