As more blockchain companies enter the marketplace, white papers become the skeleton for many projects. The white paper demonstrates the technology of the blockchain project by detailing the description of the system used to interact with users in addition to the current market data and projected growth requirements for both the token issue and use. Whether companies are raising funds for a securities or a utility token sale the process begins with the white paper.
While a good white paper is king, the best ones taking home the golden prize considers the following:
1. Follow a logical structure.
Like Pitch decks, white papers begin with a ‘definition’ of the project. Think of this section as a lead sentence for sparking interest from audience (you may demonstrate this in 2-3 sentences as well). Next draft an introduction that identifies the market opportunity. Then go into the problem in the marketplace you have identified and the technology you will be using to solve that problem. The ‘body’ or middle section of the paper outlines the technology in greater detail. The last few sections should focus on project ‘timeline’ or roadmap in addition to the accomplishments of team members and advisor list. Don’t forget to mention the legal disclaimer in the end.
2. Highlight technical terminology.
Whether your project has a prototype or an actual product, technical terminology should be highlighted throughout the paper. Include data, user base and development strategy to showcase how the technology sets out to solve the problem you see in the marketplace. Simple mockups or logic diagrams will do the trick.
It is important to showcase the development plans or detailed working plan for the next 12 months, which could include the beta-launch or token sale. List the events that were already performed to show progress and therefor the competitive advantage for the project team.
3. Incorporate graphics for branding.
Graphic design is typically an after thought. Something simple as a logo gives the paper a branded feel. Selecting certain filters give impression of entertainment giving the project a certain look and feel that readers can identify with. No one wants to be bored reading your paper by page two. Select branded infographics to digest the tech concepts and models and guide readers to certain outcomes. For example, using graphs to show token allocation is easier for people to count the zeroes. Graphics demonstrates your ability to consider various learning styles.
4. Keep target audience in mind.
If you are a media blockchain company don’t describe the technology in 80% of your content. You audience understand media and they consume it so the distribution should be 80% ‘edutainment,’ the marriage of education and entertainment, and 20% tech. Think whether your audience prefer images over text, technical over creative writing. You choose.
5. Keep information brief.
White papers range from 20 to 100+ pages. The best ones I have read are between 30 to 40 pages long.