If you own or manage a blockchain-based business, you have probably noticed that the latest narratives, flashy trends and memes grab most of the attention in this space.
That is why a number of blockchain projects put most of their focus on quick methods in order to stand out.
However, although effective in attracting attention, these short pieces of content aren’t going to achieve much more than that. For this reason, any serious business needs to invest efforts into gaining trust with their audience while turning them into investors.
Why does a blockchain business need a whitepaper?
Regardless of your role in the world of blockchain, try to imagine yourself as a serious investor for a moment.
Being the professional that you are, you would thoroughly conduct your research, always keeping an eye for the next prominent business to invest into.
And once you’ve successfully identified one such blockchain business/company, would you conduct deeper research by checking out their memes and images posted on social media?
Of course not!
That is exactly where blockchain whitepapers come in.
→ Also read: our blockchain whitepaper design service
What is a Blockchain Whitepaper?
A whitepaper is the backbone of any serious business, presenting the totality of a blockchain project with all its aspects, goals and details.
A blockchain whitepaper is not just an essential document; it’s the heart of your initiative. It’s where you lay out the blueprint of your blockchain project, detailing the nuts and bolts of your technological framework, the problem you aim to solve, the uniqueness of your solution, and the roadmap to your project’s development and execution.
Does it sound a bit too complicated?
Well, we could also lay it out in simpler terms;
Your whitepaper is the single most detailed and comprehensive resource which describes your business venture as a whole.
What parts should a blockchain whitepaper consist of?
First, it’s important to note that a business whitepaper is as detailed as you want to make it.
Another important point we should make is that every project doesn’t require the same parts, structure or design for their whitepaper.
Some blockchain projects are highly technical, while others are much simpler in those regards, which should also be reflected in their whitepapers.
Now, although what is said above is true, there are still certain parts which most if not all blockchain whitepapers should include.
These parts are the following:
- Executive Summary: This is the first section of your whitepaper, giving a brief overview of your project, its objectives, and its potential. It’s your chance to grab your audience’s attention and interest.
- Introduction: This section provides a bit more detail about your project and the problem it aims to solve. It’s where you set the context for your project and lay the groundwork for the rest of the whitepaper.
- The Problem and the Solution: In this section, you describe the problem your project aims to solve and how your project provides a unique and effective solution.
- The Roadmap: This section outlines the development and execution plan for your project, including timelines, milestones, and key deliverables.
- The Team: Here, you introduce your team, highlighting their experience, expertise, and roles in the project. Of course, this element applies only to projects with a public team.
- Conclusion and Call to Action: Finally, you wrap up your whitepaper with a compelling conclusion and a clear call to action, urging your audience to take the next step.
Now that we’ve established the key components of a blockchain whitepaper, let’s delve just a bit deeper into why it’s crucial for any blockchain-based business to invest time and effort in creating a professional one.
What advantages can a whitepaper bring to a blockchain project?
We can’t just finish this article without emphasizing on the benefits your business can get by having an optimal whitepaper!
First and foremost, it helps you build trust. Trust is the cornerstone of any successful business, especially in the blockchain space, where trust in technology and project teams is paramount.
Along with building trust, you’ll also be able to educate your audience. This is highly important since not everyone in your target audience will be familiar with the intricacies of blockchain technology or the specific problem your project aims to solve. By reading through your whitepaper, your audience will gain all the important information and knowledge which helps them understand your business down to the core.
And that can bring you the highly cherished investors, which gets us to the next advantage – Securing funding. If your project is seeking external funding, whether through an initial coin offering (ICO) or a more traditional fundraising route, a whitepaper is often a prerequisite.
Investors want to see a clear and well-reasoned investment case before committing their capital.
Hence your blockchain whitepaper can also serve as a marketing resource – whether it’s used to attract users, funding or clients, it can be the perfect resource to showcase your business potential.
And finally, by including a properly structured roadmap, you’ll be able to set certain expectations with your audience. Then “all that’s left” is to fulfill them!
Now that you know what a blockchain whitepaper is and the vast advantages it can bring to a blockchain business, we bet that you won’t just take it lightly.
Whitepapers will continue being a critical tool for any business, but especially in such a complex industry such as the blockchain space. So make sure that you have a properly written and designed whitepaper, and remember, if you need help creating one, don’t hesitate to contact our team of experts!
Slance – The creative Blockchain agency.
The Slance digital agency has been providing Blockchain companies and projects with high-quality video and design services since 2020. We have helped over 75 blockchain brands achieve visibility and establish themselves in their respective industry.
Our team consists of a talented in-house team of designers, animators, voice artists and writers who specialize in creating engaging and informative Blockchain-related content. By leveraging our experience and expertise, we have designed our services to boost brand credibility and take your project to the next level!
So do not hesitate to contact us to learn more about our services and how we can help you design a top-notch whitepaper for your blockchain business!