The term “White Paper” first appeared with the ‘Churchill White Paper’ of 1922 in the British Government. However, to this day it represents the architecture of business ventures.
Whilst there is limitless information available online through blogs, forums, podcasts etc, the best way to understand a cryptocurrency would be to read it’s Whitepaper.
What is a Whitepaper?
A Whitepaper contains all the information we need to know about a cryptocurrency, which needs to be released before an Initial Coin Offering (‘ICO’). Whitepaper’s usually contain a detailed description about how the Blockchain, protocol, or distributed application (dapp) that is being built, and describes how the Tokens will work. Including, current market data and growth anticipations, as well as requirements for the issue and the use of the Tokens. At times the Whitepaper is a full technical document, other times it mostly marketing.
What’s the aim of a Whitepaper?
Essentially a Whitepaper has two aims:
(1) To provide information to potential investors; and/or
(2) to market the Token.
Whitepaper Types
Backgrounder – This type of Whitepaper consists of content related to the benefits of the product, service or methodology are explained in depth.
Problem-solution approach – This type of whitepaper is the standard template, especially for content written for marketing purposes. Walking the audience through a clear picture of the problem within their industry, leading them to embracing the solution.
Check out Bitcoin’s & Ethereum’s initial Whitepaper below:
Thinking of conducting your own token sale? – #ThinkHassans
- Establish yourself in a reputable jurisdiction with a clear framework of policies and management.
- Registration with the Gibraltar Financial Services Commission (GFSC) for the purposes of AML/KYC supervision.
- A stable and regulated environment.
A whitepaper is like a blueprint to a building, a syllabus to a class or, more accurately a proposal to a project.
