The Mona Lisa Effect – How to Create the Perfect ICO Whitepaper

The Initial Coin/Token Offering (ICO/ITO) revolution is upon us and it seems that everyone has a desire to join in. Whether it is medtech or traveltech startups, hundreds of enterprises including financial brokers and blockchain entities are looking to this mechanism as a form of crowdfunding.

The primary reason for the hype surrounding ICOs is its inherent advantages. This includes an emphasis on a decentralized system, a focus and inclusion of small and amateur investors in the ecosystem, and smart contracts automatization. However, these attributes alone do not guarantee immediate and surefire levels of success.

Upon deciding to initiate an ICO, one must go through a complex process, which includes several phases. One of those steps, and perhaps the most challenging of them, is the development of a comprehensive whitepaper, covering all elements of the ICO.

During the past quarter, Finance Magnates has been consistently engaged in assisting firms to successfully complete their respective ICOs. In doing so, we have explored the field of whitepaper development in dozens of different and diverse cases. The end result is a strong familiarity with the overall process and framework.

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For starters, let’s define what a whitepaper is – is it a legal document? Is it a commercial offering? Is it a form of a prospectus? Is it a technical spec or business plan? The fact of the matter is that the whitepaper is a unique construct that is all of these things and more.

This means that upon engaging in this endeavor, one must balance between all these features to make sure that all aspects of an ICO are represented in full as well as understood by all parties via one comprehensive document.

This can be a challenging feat given a whitepaper should leave exactly the same impression for all sides that would come across this document. Whether the reader is a hedge fund manager, a plumber or teacher turned one-time investor, or a financial regulator, all sides should be able to garner the necessary information on the enterprise.

A whitepaper should convey the firm’s business plan and why it considers it unique and innovative. The document should also outline in full which blockchain technology the company plans to onboard, and of course, what smart contracts will design the ICO process.

Perhaps no less important is the fact that a good whitepaper should also be understandable for all these sides and clear enough for all parties, regardless of an individual’s background and education.

So, as is the case with Da Vinci’s 500-year-old Renaissance masterpiece, the whitepaper should “stare” at you from whichever angle you might look at it and give the feeling that this document addresses you personally.

Want to Learn More?

To learn more on how to create the best whitepaper for your ICO, leave your details here and we’ll contact you

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