White paper is a term that serious business-minded investors will encounter at some point in their career. Whether serious or meme-based, white papers have become milestones in the cryptocurrency industry.
White papers have become an essential part of every project.
Even retail investors are used to reading white papers before investing in any cryptocurrency project. For many cryptocurrency projects today, the white paper is considered by many to be the most important part of the launch. Even before the website launches, paper is the only real requirement.
But what is a white paper? This article answers this question before explaining how to write a white paper.
What is a white paper?
The White Paper has been around for over 100 years and is a product of the British government. These documents inform the public of important decisions made by certain government agencies.
Today, white papers are marketing tools for persuading and influencing decision makers. So why is it called a white paper? This is designated by the British government. The color “white” indicates that the document is publicly accessible.
Since then, this traditional scholarly article has been made public. Once a newspaper is in commercial use, its purpose is to be read by every potential customer.
These papers are not flashy presentations, nor are they very marketable. Instead, white papers are presented as “serious” documents similar to scientific papers.
So what is the purpose of the white paper? The original purpose of newspapers was education. Today, these newspapers inform people about the project’s products and services.
Since white papers are often published on websites, they are considered a form of inbound marketing. In business-to-business (B2B) marketing, white papers serve a variety of purposes.
Organizations use white papers for various goals, such as developing thought leaders and growing email lists. White papers are also used to build brand legitimacy and convert leads.
These documents are still created by government agencies. Nonetheless, white papers have various use cases in both the public and private sectors.
What to look out for before writing a white paper
Many people are looking for a white paper template but don’t need one. Templates are usually more guidelines. As long as the author understands the structure of the white paper and how all the parts work together, the paper should market the relevant project to the target audience.
Articles don’t have to be long, but they shouldn’t be written as blog posts. Blog posts are usually shorter. But even longer documents may have different goals than white papers. For example, white paper goals include building an audience or encouraging active registration for a webinar.
These actions don’t cost the public any money, so the purpose of writing, and how it is written, makes a big difference.
On the other hand, crypto viewers who read newspapers need to be persuaded to buy one of the many cryptocurrencies to support the project.
Before writing a word or even doing any research, copywriters need to identify the target audience. In this way, the author can quickly determine the language he should use in the article, and the psychology of his audience. This approach should also contribute to research directions.
Research is the cornerstone of a great white paper. Research includes delving into the project team, the technical aspects of the product or service being offered, and why it is the best solution to an age-old problem.
Since readers focus on the cryptocurrency white paper, there is no room for error when writing technical details.
Key Contents of the White Paper Project Outline Solution Team Profile Information on Token Offerings and Market Considerations Project Roadmap What should a white paper contain?
According to Michael Stelzner, the author of the white paper, a white paper should start with a problem or challenge the reader faces. It’s the easiest way to grab your audience’s attention and address the challenges they face.
Once they read on, the goal is to present statistics, charts, and facts to help illustrate the point of the article. Finally, the work proposes a solution, a service or product that the project team provides. If the author has done high-quality work, then this solution is a good fit for the problem.
Once the solution is convincingly presented, the next step is to present it to the team. This section is intended to convince the reader—without using sales jargon—that the team is capable of delivering on the promise of the project (i.e. the solution).
The team area can contain real photos, short bios, and links to LinkedIn and Twitter profiles. Teams sometimes use NFTs as profile pictures, although this may not be the best way to gain trust. These confidence signals invite readers to investigate further, while showing that the team has nothing to hide.
In addition, the document may contain information regarding token launches and market considerations. This should include details about cryptocurrency tokens, such as their value, the number of tokens in circulation, and the platform that issued them.
Another important factor is how you plan to get investors to redeem their tokens, and what happens if your fundraising method (such as an initial coin offering or ICO) falls short of your financial goals (investors) information. Terms and conditions, or a link to a website where they can be found, should also be included in this section.
Finally, this article can be concluded with a roadmap. Roadmaps are usually divided into quarterly goals. These goals help readers connect what they read earlier in this article with the solutions the project will provide, especially the problems it will solve.
By breaking the script in this way, the article helps the target audience conceive the project in a more tangible way. Once the project is launched, readers and investors can use the roadmap to track whether the team has achieved its stated goals.
On the other hand, a roadmap helps keep the team accountable. Did they achieve their stated goals? Because the team knows the audience is watching, missing the target can damage the project’s reputation.
White Paper Format and Design
After the white paper is complete, formatting should be a priority. Many of these articles ignore legibility, making them difficult to read.
As mainstream adoption of crypto takes place, it’s also important to consider newcomers to the audience. Newbies to cryptography will not be familiar with many of the terms that are ubiquitous in cryptography lexicons.
When you’re writing for them, it’s best not to assume your audience understands cryptography terms and concepts.
Another aspect of formatting is whitespace. Some white papers are difficult to read because the lack of white space can overwhelm readers. (Read more about whitespace in this article.)
Authors should ensure that all edges have adequate padding. It is important to pay special attention to the spacing between paragraphs and other elements. Other elements may include graphics, illustrations, and other visual aids to help focus.
By giving the reader enough white space, the essay helps them “breathe” as they pause and pause before moving on to the next section. It may seem counterintuitive, but these pauses allow the reader to digest the information and read to the end.
Nor should design decisions be left to the whim of the team. A great, well-written article can sell a project on its own, as long as the token economics are solid. Still, the role will be well-played if its owners don’t ignore its design.
A graphic designer can help with the above formatting issues. Designers, however, make their mark by ensuring that all visual design elements align with the brand’s message and identity. This ensures a smooth customer experience for your target audience.
On the other hand, choosing to ignore design can lead to a shocking experience. Readers may even have trouble remembering which company or brand published the article.
A smooth customer experience is why design decisions should be left to experienced designers. Such designers understand the project’s identity, target audience, and main goals. Additionally, designers can work with copywriters to verify that all elements are coherent and meaningful.
When content and images complement each other, they improve quality, ensuring an overall experience.
Some famous white paper examples for inspiration
This section looks at two of the most frequently cited examples of crypto white papers: the Bitcoin white paper and the Ethereum white paper.
The Bitcoin white paper is not a “white paper” in the traditional sense, which is a misnomer. The anonymous author Satoshi Nakamoto wrote an academic article. You can read the original article here.
In contrast, the Ethereum white paper is more like a white paper. The Ethereum paper deviates from the traditional research format. It’s more like a living document, edited and improved over time over time.
Because of this, Ethereum documentation has been transformed from a white paper to a reference guide or technical documentation for users. Ethereum’s white paper (spelled “white paper” in this case) is available in full here.
How to get a white paper without writing a white paper
If a business owner doesn’t have the time or skills to write a white paper, they can always hire a writer. Many business journalists write exclusively on white papers. There is no shortage of good white paper writers to hire.
It’s also an additional consideration for anyone working in the cryptocurrency industry. Some engineers and programmers find it difficult to write in a way that their audience can understand.
Compared to freelancers on platforms like Fiverr and Upwork, the cost of whitepaper authors is much higher. However, investing is necessary and prudent. A great article will make the project team’s job easier.
In particular – and most importantly – a striking white paper can easily create a buzz. Regardless of the startup model a cryptocurrency project chooses, generating resonance makes fundraising easier.
A project might opt for an initial public offering (ISO), or even a more traditional, more financially friendly approach, such as an initial public offering (IPO) or venture capital. It doesn’t matter. A white paper will serve all serious projects well.
Source of information: Compiled from COINSCREED by 0x information.The copyright belongs to the author Chosen Esiwe and may not be reproduced without permission