For any company or organization launching a cryptocurrency, a whitepaper is a critical step in the process. It’s important that the document gives credibility to your organization and project and essentially convinces people to invest. Keep in mind, sophisticated investors will be reviewing your writepaper so it critical to submit a quality response.
Jason Cooney, Founder of the Tender Team and Tsaks Consulting, and leading Cryptocurrency whitepaper specialist, provides these five tips for writing a quality cryptocurrency ICO whitepaper:
Highlight the skills and expertise of your team
This point is critical. Investors want to know the skill level of your personnel, expertise and track record. They want to know that you have the team and capability to deliver. Where members of your team have:
- Experience at managerial level at big name corporations;
- Academic qualifications and any PHD or studies in certain areas;
- Experience managing and implementing similar projects;
It is critical that you highlight this. It is also important to ensure that your team’s personal brand (Linkedin profiles etc) align closely with what is being put forward in the whitepaper.
Solve a real world problem
Investors are being increasingly skeptical about cryptocurrencies and whitepapers and the projects they are raising funds for. They try to decipher the opportunities that deliver real value and solve a real world problem compared to those that may be ‘fake’ or not of substance. Where you are talking about your solution and project, it is critical to demonstrate a clear business case. Talk about how your project will solve a real world problem and is grounded in practical credibility. Investors need to think to themselves ‘this is a good idea’ and ‘I think this will work and I can see how it is scaleable’.
Use simple English to explain complex issues
There is no doubt that there will be some complexity to your whitepaper. Cryptocurrencies by their very nature are generally highly complex. However, it is critical that you use simple English to complain complex issues and possibly infographics where appropriate. Your whitepaper will be read by different investors of varying level of skill and subject expertise. It therefore needs to be convincing for all different types of investors, from those with substantial technical knowledge of your area to those with minimal technical knowledge.
Produce and deliver a detailed budget and plan
Transparency and detail often bring credibility. Investors will develop a gut feeling of the level of credibility when reading your whitepaper. Therefore, its important to present a clear and detailed plan of how the funds raised will be invested. We often write grant applications to government where you have to account for every cent. With a whitepaper, a comprehensive amount of detail on what the money raised will be spent on and key milestones are required.
By Jason Cooney
Tender Writing and Cryptocurrency Writing Specialist