The ICO White Paper, its purpose is pretty clear – to provide a potential investor with all of the details of a new coin offering – the commercial, financial, and technological – so they can make an investment decision.
It is surprising, though, how many White Papers are poorly written, for a few reasons:
- Some are just too vague and not much more than a marketing piece, extoling the greatness of the currency and how it will soar to great heights.
- Some spend too much time on the technological aspects when they are trying to appeal to an audience that may not be tech-savvy enough to understand – a big yawn.
- Some are filled with so much complex financial and legal jargon (not to mention an overload of adjectives and adverbs) that the average investor cannot understand what is actually being said.
These issues become even more important if an ICO is attempting to attract a global audience for that White Paper and plans to have it translated into target languages. So, if you are involved in a White Paper creation that will ultimately be translated, there are some key considerations as you write it in your native language. If you follow these tips, the translations will achieve clarity in any target language.
Write as Simply as Possible
It’s easy to get carried away in your enthusiasm about and ICO. After all, there has been a huge amount of work involved in the technological development and all of the business, commercial, and legal factors in the process.
But your goal is to provide the information that the reader really needs and to provide it in simple language. Begin with the non-technical stuff, so you don’t discourage anyone from reading through. Most will be interested in what your crypto has to offer, now how it actually works. And if you can do this in your native language, your translation will be much better.
Visuals are a Good Thing
If you can use graphics to get key information across, all the better. When you do this, the reader does not have to dig through walls of text for information. And they translate very easily too.
Remember – This is a Financial Product
The technology of a cryptocurrency is blockchain. But the real backbone is financial. And it does not have to be really complicated. What is your projection for worth? What is your market cap? Is there a Fiat element? These are key pieces of information, and they can be explained in clear simple terms.
It is also critical to explain the “why.” What are the reasons for your projections and market cap?
Now, the Technology
Of course, you want to include technological information, but it should be balanced – give enough for a simple understanding but do not overload. Also, include any copyrights or patents or other protections that your technology has. If you are using the technology of others, state so. A “tried and true” technology can be very attractive to potential investors.
Potential investors usually have questions. And they need a contact person or two. One of the biggest ways to get yourself in trouble is to have too many people answering questions. You need to control the responses, so have only one or two trusted people who really understand all of the details of your ICO be the “go-to” people.
And there is where translation will be really important. Find a good translation service company that can not only translate your White Paper into your target languages, but also who can provide the accurate translations for the back and forth of questions and answers.
Now Some Legal Stuff
If you are crafting a White Paper for a global audience, you have to be mindful of the various regulations and laws governing crypto offerings in your target countries. While your main concern is in the regs of the country of origin, there are laws in some countries that govern investments in any cryptos, domestic or foreign-based. And, even if you are based in one country, doing business in another opens you up to legal action, especially civil. Here are some things to think about.
- Are cryptos considered securities in the native countries of potential investors? If so, there may be regulations that impact how you promote your ICO there.
- Everything you put into a White Paper you must consider as “evidence.” What you promise, what you claim, etc. can be used in any court of law. As can anything you say on social media as a response to anyone.
- Disclaimers will be important. And, in translations, they are critical. Another reason why you need a translation service that has pros in financial and legal document translation.
A Final Word – Translations Matter
You may craft an amazing White Paper that is straightforward, clearly constructed, and appealing to potential investors, in your native language. And it may comply with all of the legal restrictions in your native country.
But once you move into a more global audience, you have to be mindful that any translation does not corrupt your intended meaning of anything. You don’t want to mislead your audience, and careful translation will prevent that. The minimum you need is translators who are native to the target language countries and who have financial expertise and the willingness to do the legal research that may be required.
Going beyond that minimum, it would be wise to go the cost and consult with a financial/legal expert in your target countries. Your White Paper must have the language that will keep you legally appropriate, and at the same time be appealing enough to attract investors.
ICO’s are emerging almost daily. And, if they have White Papers that are carefully and well-crafted, they have the potential of attracting some serious investors with serious money. And, there are also those smaller individual investors who are looking for the next Bitcoin phenomenon. You want to provide solid information, a clear picture of the potential, and project confidence in the potential of your ICO.