White paper on Blockchain — Need or Not?
When you work with IT projects (in particular related to blockchain), you will usually hear about whitepaper documentation. In the following article, we will answer the basic questions and doubts related to this topic and offer suggestions on how to build a valuable white paper that will be helpful both for investors and users.
What’s a Whitepaper?
One of the significant benefits of blockchain technology is its transparency. Projects based on blockchain technology have a fully open, transparent, and accountable environment for public participation. All transactions on the blockchain can’t be manipulated, amended, or removed once the network has been validated. It’s a crucial part of the blockchain network.
Decentralized autonomous organization (DAO) is one of the best-known concepts that blockchain technology has introduced. Instead of a traditional form of the hierarchy as upper/middle management, you will see a self-managed organization with employees given significant authority. The rewards could be tremendous: increasing productivity, higher profits, and more engaged employees.
Blockchain’s documentation has a standard that everyone has full access to everything. One of the remarkable documents is called a whitepaper. It’s an essential report with information specific to your product/service. Put in the first place your business model, which includes the problem that the project is looking to solve, a detailed description of its product, its architecture, and its interaction with users.
A white paper can be an excellent opportunity to educate clients about your services or industry and gain their trust. Writing a white paper can be difficult to deal with if you’ve never done this before.
What’s not a Whitepaper?
The term white paper is often used mistakenly. Every technical research paper, product description, survey report, or sales presentation is marked “whitepaper.” As we mentioned above, a white paper is a reliable, well-written technical document solving a problem. The document helps potential technology buyers estimate a purchasing decision. They’re not looking only for product information when they pick up a white paper. You’re enlightening them on the available opportunities and helping them understand why one particular solution is the best choice for solving their problem.
Why not call documents what they are? Give them simple names that allow prospects to know what they’re getting. Help customers find what they’re looking for when they’re looking for it. A technical paper one of your people presented at a conference? Call it a technical paper. If you have a document that’s a hybrid of forms, the term “special report” often works well.
Why Write a Whitepaper?
You should write a white paper to let users, investors, token owners, and everyone else know what problem you solve, how you do this, how it is more efficient than currently available solutions, and your mid-long-term strategy for the product/system/platform. Remember that on the market is multum diverse ideas/products/solutions. They constantly offer nothing new or noteworthy. It would help if you focus on how your project is different from the market competition.
An excellent white paper should be clear, straightforward, and highly complete. You will present a solution within your industry. On the other side, you want to encourage investors to notice your products and invest in them. So for this purpose, a white paper is also a marketing tool that must show readers that you’re reliable, experienced, and professional in a presented domain. This report should build trust and confidence in your company when potential customers/buyers will read it. Investors need to know when their investments get appropriate profits and that your products are unique. You are looking for potential buyers and users. Be for your readers transparent and bring value. Remember, white papers are more factual, professional, and research-based.
When write a White Paper?
Writing a whitepaper takes a lot of research, time, and knowledge of a particular domain. Bring first your idea of the business model. It’s crucial. If you want to implement your project successfully, a white paper is necessary. That’s why you should think about writing a white paper in the early stage of your project. Investors count the money. They are super careful about every cent and don’t allow you to spend them quickly in an easy way.
White papers tend to pack a ton of information within their pages. But in reality, many people aren’t read the whole paper cover to cover. That’s why preparation, and proper structure, in that case, are significant.
How to write White Paper?
Good preparation and plan can save you time and money. Do good research, use case studies if needed, calculations, and use language able to understand. Your white paper needs to inform, persuade, satisfy and reassure every reader.
- Think about your primary goal. What is your purpose? The goal of your white paper will determine the format, content, style, and design.
- How is it different from your competitors?
- Who are you writing for? ( who will be your potential customers/buyers and users).
- What are their problems and challenges? What is your solution?
- Is there a working prototype of this project out there, or is it just all theoretical right now?
- Think about structure — there are many ways to build a whitepaper.
- Write the content and spend some time on edit and formatting.
Good design can increase users’ perception and improve their reading experience.
Here’s a simple outline for a white paper as an example:
- Introduction/Overview (perhaps one of the most important steps, you need to captivate your audience and persuade them to read further, it’s good to put your vision and description of your business model; If possible or needed you could also write the historical overview, explain why your business model matters and how this idea comes to you)
- Project outline/Solution (it should clearly define precisely the problem you intend to solve, why your business model is unique, and what you offer your potential users/investors; put here all necessary information that explains your intention to create a new business model)
- Technology (what kind of technical aspects do you need to mention, technically detailed description regarding products)
- Token Information (here also be described tokens release, how many, why, how, when, and marketplace considerations)
- Roadmap (what are the technical and business milestones of the project? When will the platform go fully public? What is business potential in your case? Some information about the team)
- Conclusion ( summarize and round up the whole white paper; the conclusion can also contain a list of some vital takeaway points (bulleted).
- Appendix (consist of external resources used in your document, figures, tables, maps, raw data, sample questionnaires, etc. )
Additionally, you could design or use images, graphic elements, charts, and icons.
As we mentioned above, the content of a white paper takes the readers on a journey. It leads them with researched methodologies, solutions, using technology, and data to a conclusion that makes the reader feel like they’ve learned something important.
We hope these guidelines will be helpful, and you can write an influential white paper that’s interactive and is a pleasure to read. To make your work easier, you can always write Neti. We invite you to consult us at every stage of the project.
If you have any questions, drop a line in the comments below.
Examples of the good White Papers
There is no single standard for white paper — it will be only our subjective assessment of what “good” white paper — choosing those documents.
We considered the audience, to which it’s directed, clarity of the information, length of the document, and the description’s detail.
https://www.finxflo.com/whitepaper.pdf — the good structure, easily explains the business case and technology side, and uses very nice readable graphics.
https://crypto.com/images/crypto_com_whitepaper.pdf — you can find answers for each aspect of the business model, a very professional approach, and a transparent white paper
https://cryowar.com/files/wp.pdf — provides deep insights into the current market for online games and the growing relevance of blockchain
Summarize the all written above — you see how important and useful can be the white paper. It’s not about writing the report, it should catch readers’ attention and help them understand an issue, solve a problem, or make a decision. When the document did right, the content will play an active role in the purchasing process and encourage clients to trust your brand and your scope of knowledge. It is the most effective form of business collateral, and many people have used white papers as part of their decision-making efforts.
This makes ‘writing whitepapers’ an effective strategic and marketing tool for organizations, and even more so for entrepreneurs.
Do not miss the opportunities that a good whitepaper can fetch you. Remember about the importance or the impact of a good whitepaper. A whitepaper in time saves nine.