While many may argue that Whitepapers are now old school and do not matter much in today's 24*7 online world, the fact is ‘they could not be more wrong’. There is no denying the fact that the multiple marketing channels (especially social media) have witnessed tremendous traffic but their effectiveness has come under more and more scrutiny with each passing day. Amidst the ‘trust whirlpool’ that social media finds itself embroiled in recently, Whitepapers remain a strong anchor for budding and game-changing technologies.
This fact is cemented by the rise and rise of Bitcoin in this decade. For those who don't know ‘Bitcoin Project started with the publishing of a white paper with the same title’. And so was the power of the content in the BitCoin Whitepaper that in spite of being written under a pseudonym, it propelled Bitcoin to glory sans any social media or any other form of marketing. The success of Bitcoin proves that Whitepaper was and is 24 Karat Gold in the marketing world. It would never lose its shine. In this blog, we discuss the Importance of a white paper for an ICO Project.
More than marketing and promotion, the fact is that a whitepaper in its very essence tries to educate and never sell. This brings a moral value which is the paramount factor for any ICO Project. For a successful ICO, it must embed some real-world value and a well written substantial whitepaper does exactly that. A well-written whitepaper prepares the necessary groundwork for other marketing and promotion channels like webinars, social media and animated presentations.
Most Blockchain projects need a robust whitepaper to connect easily with the audience and potential investors. In the process, the whitepaper ensures that:
Take the example of the Medipedia whitepaper, which is beautifully crafted and contains all the required information that an investor might need in order to make the right decision of whether to invest or not. It also helps medical consumers find out how the project can help them.
If a whitepaper is successful to embed the above than a wide scale potential query transforming into happy clients is a natural after-effect. Hence in short and crisp terms, we can say that,
“A Whitepaper garners all important public trust and establishes legitimacy and credibility for the ICO Project. Additionally, it makes sure that the reader understands the basic technical backdrop, the financial model as well as get all pertinent information like Founders and Team Contacts.”
Long Term and Good Investors have a habit of reading and reviewing all element of whitepapers till the last word. Hence a whitepaper which very aptly details all verticals of the ICO project ranging from Technical/financial details to team members will attract these key investors instantly with minimum persuasion. While speculative investors are easy to get but they bring little value to the project, it is these long-term investors who can accelerate the ICO project towards success. Hence a whitepaper that is technical and yet easily comprehensible to the layman is a necessary parameter for any successful ICO Project.