The rise of cryptocurrencies and Blockchain technology has been fostered by more and more investors, startups and new entrepreneurs who find in this sector the perfect medium to create projects that solve a particular problem of our daily life. In fact, the growth in the number of projects based on ICOs (Initial Currency Offers) has been so overwhelming in recent months, that it seems as if one of these offers is being launched each day.
If it is developed in the right way, an ICO can represent an extensive and complicated process. In addition to the technological development of the token or currency that will be offered (exchange, portfolios, etc.), there is a large number of commercial and corporate elements that must be taken into account during the realization of this project.
After observing in recent months a large number of ICOs, some more successful than others, there is a key element that should not be overlooked: The Cryptocurrency ICO Whitepapers, which consists of a document made by the development team before the launch of the project or token.
The White Paper should include the technical, commercial and financial details of the ICO, and present them in such a way that all readers understand the information. Specifically, it is a document that includes everything you need to know about a specific token, system or platform to convince users that it is worth investing in the project and using it.
Considering the importance of this document, it is surprising how many projects do not take it seriously at present, limiting itself to offering a document with little information, which looks more like an advertising advertisement explaining how it will overcome the other similar projects, instead of explaining the basis of the project it promotes.
If you are currently working in an ICO and you are faced with the complicated task of writing a White Paper, here are some key factors that you must take into account to help your audience understand the basic information of your project and increase the possibilities of sale during the ICO.
Although it seems a minor issue, the format of the document will reveal your commitment. By law, your White Paper must be submitted in PDF format, because although it may seem strange, the fact that it is an insecure, editable and redistributor format, in the world of cryptocurrencies, expresses your willingness to be vulnerable and the commitment of the project. In this sense, the best way to present it is embedded in the official website of the project.
A good point of reference for the extension of your White Paper comes from the official Bitcoin document, created by Satoshi Nakamoto. His article spanned eight pages, however, this was in 2008, before the new trends and improvements. Since then, the average White Paper has increased to 100 pages, representing an increase of 1,250 percent.
Readers also love an extensive White Paper. With 8 pages, you will feel that something more is needed, however, a 100-page document gives the reader the freedom to choose the topics he cares to read, as well as giving him a sense of confidence.
The correct thing is that a White Paper resembles a thorough academic research work, with citations and review of each aspect. However, you should also include a business plan that is easy to read and is adapted to new financial trends.
Completing 100 pages for your White Paper will be a challenge, however, the following aspects will indicate what the document should include making it more understandable:
Talk about Blockchain technology and how it works. Although many readers know it, they will appreciate the summary. In fact, you can rewrite this information from other white papers.