What is a White Paper?

If you’ve heard about writing a white paper, but you’re not sure what it is, here’s a beginner’s guide for you. 

 

What is a White Paper? 

In short, a white paper is a key term for a document that details what’s involved in a new service or product. It’s a document made to highlight, more than anything else, what the features of a proposed product or service are, and is usually issued by a new or small company, or a nonprofit organization. 

 

What is a White Paper Used For? 

At their core, a white paper is used as a marketing tool, and in terms of cryptocurrency, is used to attract investment. They’re created by people or organizations that have an idea for a new type of cryptocurrency and want to attract investment into their currently valueless and new currency.  

White papers exist in many different formats for many different sectors. For the world of cryptocurrency, a white paper is used to accompany an ICO – an initial coin offering. They’re essential to attracting investment, as new currencies are entirely worthless, and have no guarantee of being circulated. 

 

What a White Paper Contains

To sell a new cryptocurrency, a white paper needs to have some specific points to it. It needs to describe the problem that is currently in the market and to make it clear to investors. It then needs to explain how this new cryptocurrency can solve the problem the organization has identified. 

Want to take advantage of white paper? Open up an online bank account, deposit your crypto, and start using your BlockCard as soon as your application is complete.

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