With the advent of Bitcoin and various other cryptocurrencies, the word White Paper has also entered our vocabulary, but what is it and to what do we owe its extreme importance to it?
History
Born in the political-social field, it is a document that examines a problem and explains its solution in detail.
Its name, "white book", dates back to the Anglo-Saxon world and their habit of identifying the shortest documents with a white cover.
While the others were blue.
Over time, the White Paper has also found application in other spaces besides the political one: in Marketing and Business, for example.
This diffusion is due to its versatility: the illustration of the theories that gave life to a project and the in-depth study of a specific theme by offering an authoritative point of view.
Describing in a timely manner also addressing technical issues if necessary.
From this we understand that the drafting of this document cannot be approximate or drafting the project at all, but it needs to be linear and concrete.
In fact, the people to whom it is addressed already have some preparation in the sector.
On a political level, we recall some important White Papers:
Delors' 1985 White Paper is the first White Paper of the European Commission;
In 1922, the most famous White Paper in history was written, known as the "Churchill White Paper".
Other "colors"
As I mentioned at the beginning, there are not only White Papers, but there are other colors: each color is combined with a different type of content.
The Green Paper: very widespread in politics and institutions, unlike the White Paper it does not contain the solution to a problem, it is more a "stimulant" to the discussion, that is the "communication" of a problem.
Usually a Green Paper follows a White Paper.
The Blue Paper or Blue book is a very technical document therefore intended for a limited circle of users.
Nevertheless, it must maintain an understandable and clear language given the complexity that underlies a purely technical argument.
The Yellow Paper is an extremely technical and complex version of the White Paper. It can be considered as a deepening of the White Paper itself that leaves nothing the reader’s imagination.
We can consider the Beige Paper a "middle way" between the basic notions, albeit technical, of the White Paper and the insights needed by the experts to fully understand all the mechanisms and functions of what has been described in the Yellow Paper.
Key points of a White Paper
Being a corporate document, it must have a certain presence and, in some ways, be aesthetically appealing.
The more the document captivates the reader, the greater the chances to be read.
To give an example in terms of color, the document will have to recall the company's colors a lot, almost as if it were a subliminal message.
Like all corporate documentation, the White Paper must also have its own organic structure consisting of various sections.
Choice of Copywriter, assisted by a company manager, to give the right tone and style to this document. Choosing a narrative tone allows the soul of the company to emerge, giving more empathy to the reader during its reading. If, on the other hand, you prefer a more formal and technical tone, a different company line will shine through.
In any case, whatever the imprint you want to give to the White Paper, there is a ladder to which it is preferable to follow in order to have an organic and clear document.
First of all, the Abstract is the opening words, the summa: the exposition of the salient points that will be addressed in the White Paper and if it is a company, the founding members of the same will be reported with a short working biography.
It is very important as it is a filter for all readers who will not find the necessary solutions to their problem; they will not waste time reading it if there are no useful elements.
The reference context: that is the methodologies used to find the data to support the theses that will be subsequently presented.
The problem and the solution to be adopted: this is the heart of the White Paper, the part where the problem is analyzed from within and a solution is implemented with all the information and data in support.
The advantages: indicates what can be achieved by using this solution. In this section you can also make parallels using solutions different in order to tickle the reader's participation.
Clearly, this document will have to be concluded by making a report on the above, indicating the sources of the data, a Glossary since there will certainly be technical terms and, if the authors agree, provide their contacts.
Providing contacts bring to a relationship of exchange and clarification that can be established with curious readers and other tech people where collaborations can be established.
As we have seen, a White Paper is not exactly simple to make but after all, it represent the identity card of a company and as such it must be taken care of.
Here we can, through this document, make our considerations on the company, on the solution to the problem.
It becomes of fundamental importance for us and I'll explain why: you know very well how important ICOs (Initial Coin Offering) have been: they have represented a form of Crowdfunding, they are fundamental for the company and for investors.
If the project is a valid project and if we see a real usefulness it will be easier for us to pay a sum to take part into the Crowdfunding.
Obviously, at the Whitepaper stage, the project is still an idea, and its realization is not yet sure, until the SoftCap would be reached.
All these information are reported in the WP (Whitepaper) and that is why it becomes of extreme importance.
