Whitepaper

A whitepaper can be characterized as a prospectus or pitch that is persuasive, authoritative, or in-depth detailing a specific project that presents a problem along with a solution.

The concept of a whitepaper is a relatively new construct, which represents a document that contains all of the information about the technology that was used to build a cryptocurrency network, and how the network will be used, and for what purpose.

Marketers rely on whitepapers for a variety of reasons, with the most common being the education of an audience about a particular issue or to promote a particular methodology.

In addition, some whitepapers can contain information about a business plan behind a cryptocurrency and the organization that created it.

Whitepapers Promoting ICOs

Whitepapers are closely intertwined with Initial Coin Offerings (ICOs), as these documents seek to provide a roadmap for a business plan for the company.

These can include information for prospective investors about specific product, structure, mission, benefits, team, roadmap, future plans, etc.

These documents were instrumental in helping ICO become a mainstream investment strategy, albeit temporarily.

Whitepapers presently receive a negative connotation, given the amount of speculative and ultimately unsuccessful ICOs that were originally promoted through whitepapers.

The past few years have seen a widening number of whitepapers that lacked vital or in many cases accurate information.

This proved one of the key drivers of the ICO craze that reached its apex back in 2017.

Most whitepapers went into specific details for investors in ways that normal marketing channels could not readily transmit.

As such, whitepapers were very effective in providing detailed information to normal individuals on products, security protocols, methodology, target users, and team members.

There have however been several successful ICOs, including Ethereum, NEO, Spectrecoin, and others.