What should be included in an ICO WHITEPAPER?An ICO whitepaper is a document that determines the technology behind the blockchain project. The document normally contains a comprehensive description of the system architecture together with its users’ interaction as well as prevailing market data and growth projections and requirements for the issue as well as token usage. Additionally, it offers a list of team members of the project, advisors, and investors. So what should be included in an ICO whitepaper? This article outlines the major requirements that should be in an ICO whitepaper.
Promoters LocationInvestors need to have means and through which to get in touch with appropriate authorities in case of loss, robbery or scam. An ICO whitepaper, therefore, needs to set out a comprehensive statement concerning the location of the issuer together with its key management. Failure to have a verifiable geographical address will make the investors raise eye-brows concerning the project and thus shunning away from it.
Problem and Proposed Technology Solution An ideal ICO whitepaper must have a clear description of the problem as well as the proposed technology solution. An ideal disclosure system for ICOs needs to have plain and simple English explanation of the problem together with the technology solution. Additionally, for bigger fundraisers, the extra technical sections of the whitepaper should preferably be subjected to a third party authentication kind of system to confirm that the solution is disclosed in the whitepaper conforms to sound engineering as well as mathematical principles. The promoters of ICO should disclose what if in the event a third-party audit of their solution was done and if in the event that was not conducted, this would favorably disclose the auditing system material features, and the outcome of the audit. At the meantime, all codes, irrespective of the size of the fundraiser should be displayed to a public code repository, like the Github, in order for prospective purchasers to carry out due diligence on the code itself or other alternatives for the code’s strength.
Token Description Tokens can have a wide range of various economic and qualitative features, for instance, securities, currency, and utility. Where the token is based on the certain technological format it should be based which must conform to certain regulations like the ERC20 standards, the disclosures need to clarify what that entails to the normal holder. The token description should clearly indicate the proposed usage of the coins issued in the offering, their quantity and if and when the advisors or founders will hold reserve coins and how they chose to liquidate them.
Blockchain Governance Investors need to be informed on the way in which the supporting infrastructure functions, and how it will affect the administration of the token. On that note, a unanimity mechanism for a virtual currency’s blockchain need to be disclosed, together with an indication of how government decisions as well as other decisions impacting the network.
Technical Team Qualifications So as to offer investors with some sense regarding credibility and expertise of the whitepaper, founders should provide all the material facts and info concerning major engineering skills, experience, and qualifications as well as other suitable attributes. Where appropriate, developers need also to give links to their prior work on a public code repository.
Risk FactorsICOs needs to include disclosures relating to the most vital factors impacting the holders of the token in the offering document. Token holders should understand the bigger sectorial risks, inclusive of the changes in the industry that could downgrade some blockchain designs to more functional roles in the sector, and render the majority of the tokens valueless. Analytically, buyers need to be made completely aware of their possible vulnerability to hacking, loss of data and disruption and also legal issues such as privacy concerns and the probability of data across borders.
For ICO whitepapers, ICO Press release writing and distribution, Content and blogposts
Contact me via
Telegram: @cryptowilie
Skype: @ngariwilson30
Email:
[email protected]
Topic: what should be included in an ICO whitepaper?Read the article below (Read 950 times)