On June 5, 2025, Tesla's stock price dropped 14% in a single day, resulting in a loss of approximately $150 billion in market value, due to a public dispute between Elon Musk and Donald Trump regarding the federal electric vehicle tax credit policy. This incident highlights the market's heavy reliance on trust, rather than being solely based on fundamentals. Marko Ratkovic, Chief Technology Officer of Graphite Network, pointed out that traditional financial markets rely too much on personal reputation and political factors, while Graphite Network aims to establish a trust system based on verifiable behavior and transparency through its embedded reputation system, utilizing blockchain technology and trust scoring mechanisms. The platform ensures data security and the authenticity of user identities through technologies such as KYC, smart contracts, and zero-knowledge proofs, preventing system manipulation. Graphite Network also plans to launch several reputation-based applications to promote development in decentralized finance and supply chain management. The Tesla incident demonstrates that market fluctuations often stem from emotions and personal relationships, while Graphite Network offers a solution for achieving market stability through programmatic trust.
