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Whitepaper – indispensable document when a crypto project is announced to investors and the community.
What is a whitepaper?
The white paper in the Crypto project is understood as a document that provides technical information, development roadmap plan and project objectives. The content here includes the numbers and statistical data, diagrams and facts of the project to convince investors to be interested and invest in this cryptocurrency.
The white paper is said to be an important and necessary document for a beginner crypto project to be considered legal and professional. Through the specific data, the most detailed investors can understand the differences and excel compared to other competitors in the industry of the project.
Whitepapers tend to be different from newspapers with short, easy-to-understand characteristics, contain fewer technical indicators and are easier to understand for the public. The most classic Whitepaper document in crypto circles is Bitcoin‘s “A Peer-to-Peer Electronic Cash System,” published in 2008 by Satoshi Nakamoto.
How Crypto Experts Rate a Whitepaper
Some perspectives of experts in the field of digital assets on the Whitepaper.
- Ami Ben David, co-founder and managing partner of SPiCE VC, said that he owns a company that specializes in encryption security, so the first thing he is interested in in whitepaper is the technique of the project: Does it meet enough users as it expands further, does it revolutionize a related field, or through an enterprise project that receives any distinct advantages in the cryptocurrency market. After meeting these criteria, he and his colleagues will continue to evaluate the fit between grand purpose ideals and macro words and the data of what they achieve through practice and conclude whether to participate and invest.
- Ofir Beigel, Owner of 99Bitcoins also offers similar WhitePaper review tips to cryptocurrency investors and crypto startups.The first is the core-team, the market factor and the reasons why the project is interested. This is followed by identifying short- and long-term motivations for stakeholders when participating in the project, clearly identifying the parallel benefits between the founder when running the project and the investor and thereby assessing the level of conformity with the protocols built on the platform. The transparency of the company’s finances in the stages of whether or not is provided correctly is also an important factor.
- Oracle Crypto Partner Lou Kerner proposed adding the team standard in the Whitepaper in addition to the elements in the overall project. He often uses machine learning (AI technology) to evaluate teams and is interested in the role of tokens in the solution given, followed by the economic benefits to ecosystem users, and finally the management skills in each roadmap. A bad Whitepaper can bring big losses to the project.
- Blonde 2.0 co-CEO Motti Peer said he and other low-time investors receive hundreds of Whitepapers every day and only decide to read the whitepapers that state the company’s purpose and process in the first place. To maintain support, the Whitepaper needs to clarify and highlight the company’s message and products as this is the difference that determines the success or breakdown of the project.
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