The current market in cryptocurrency is filled with innovation. This innovation comes from the vast number of startups that are dotting the landscape more and more – and they all need money. This need was slowly met with ICOs and now STOs and IEOs. The problem is that money is a scarce resource and competing for it based on ideas alone is not enough anymore.
There are a few things that need consideration before launching a startup that everyone supports. The startup needs to define its target market, conduct competitive analysis and to create financial forecasts that all help with various predictions of the way the business will work in short to medium term. A road map for the future if you will.
Now it just so happens that there is an extra step for cryptocurrency startups. They need to create it. They explain the currency and what will be the benefit of investing in that coin. Investors read the white paper and glean all the information they need to see if it is even worth investing in the startup.
The idea behind a white paper is to outline the technology being used, who is who in the startup team and the method it will undertake to be launched. The thing about cryptocurrency, as opposed to traditional startups, is that they are fairly often collaborative efforts on the part of many individuals from a wide variety of countries. They are also seeking ICO financing, which is a decentralized model of financing that is, again, worldwide. That means the whitepaper needs to be readable to as many people as possible.
That can only be done by having a multilingual whitepaper: the larger your audience, the larger your pool of backers. The larger your pool of backers, the higher you can aim financially. It simply makes sense to create a multilingual whitepaper so that the regions that have the most pull in the industry can feel as if they are invited to the party.
A great translation of a whitepaper can give larger markets a completely new take on your startup and your token. It is one thing to understand a paper written in English, but it is quite another to present the same information to people in their native language.
This is particularly important due to both the technical and non-technical sides of a white paper. Many technically minded people will always look for documentation in English, particularly programmers. However, the non-technical side of a white paper is just as important. The technology underpinning a token or startup is important, but so is the vision for the coin.
If you cannot sell a coin to someone who cannot understand the complex crypto lingo, then you are not going to have a stellar launch of a cryptocurrency. It might be picked up by only those can see the full potential in the mathematics, but that will never be enough... not in today's market where more and more less technically savvy people are in the market.
Yes, a multilingual paper is a difficult thing to pull off at any point. Yes, localization will take a lot of time and effort. If you do it properly, however, then you will truly profit off of your ideas, and if you don't you might just get lost in the crowd.
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