Trust model

In the chemical industry, especially in projects such as CyberVerseDex, the creation of a trust model is crucial. This concept implies that for a product or service to be widely accepted and used, there must be trust in its value and utility.

Historically, in finance, the ideal commodity for establishing such trust was gold, so currencies prior to 1971 were backed by it. For example, the U.S. dollar was backed by gold, and other currencies were in turn backed by the dollar. However, the suspension of the gold standard in 1971 by U.S. President Richard Nixon marked the end of this system, leading to the emergence of fiat currencies.

Fiat currencies, unlike gold-backed currencies, are not backed by any physical commodity. Their value is determined by government regulation and recognition as legal tender. Through this transition, governments have gained significant control over monetary systems.

In the context of the chemical industry, and in particular the CyberVerseDex project, the trust model is based on the tangible value and utility of bioethanol. Bioethanol, like gold in today's financial context, is a valuable and tangible asset. CyberVerseDex aims to democratize access to bioethanol production and investment using blockchain technology. This approach will open up opportunities around the world by allowing various participants to participate in the bioethanol market, just as real estate investments are becoming increasingly accessible thanks to blockchain in the financial sector.