47 things that a Blockchain Whitepaper must contain
Inspired by the Virtual Financial Assets Act of Malta, here is a list of 47 things that a Blockchain Whitepaper should have.
A Blockchain Whitepaper describes the features and specifications of a blockchain-based project, including:
the problem that the project aims to solve,
the solution that the project proposes, and
the details of the project's token sale and governance model.
Whitepapers are designed by Token Economists and are aimed at potential investors and users.
A Lightpaper is a simplified & shorter version of the Whitepaper. A Yellowpaper contains technical details and is aimed at developers, startups & technologists. A Beigepaper is a simplified & shorter version of the Yellowpaper.
Inspired by the Virtual Financial Assets Act of Malta, here is a list of 45+ things that a Blockchain Token Whitepaper should have.
Summary of the Whitepaper
A statement from the relevant persons explaining any assumptions made in the whitepaper.
Date of issue of the whitepaper.
Names, functions, and declarations by the persons responsible for the whitepaper that to the best of their knowledge the information contained in the whitepaper is in accordance with the facts and that the whitepaper makes no omission likely to affect its import.
Description of the reason behind the Blockchain Token Offering.
Detailed technical description of the protocol, platform and / or application, as the case may be, and the associated benefits.
Detailed description of the sustainability and scalability of the proposed project.
Associated challenges and risks as well as mitigating measures thereof.
Detailed description of the characteristics and functionality of the Blockchain Tokens being offered.
Detailed description of the issuer, agents, development team, advisors, and any other service providers that may be deployed for the realization of the project.
Detailed description of the issuer's wallet(s) used.
Description of the security safeguards against cyber threats to the underlying protocol, to any off-chain activities, and to any wallets used by the issuer.
Detailed description of the life cycle of the Initial Blockchain Token Offering and the proposed project.
Detailed description of the past and future milestones and project financing.
Detailed description of the targeted investor base.
Exchange rate of the Blockchain Tokens.
Description of the underlying protocol's interoperability with other protocols.
Description of the manner in which the funds raised through the Initial Blockchain Token Offering will be allocated.
The amount and purpose of the issue.
The total number of Blockchain Tokens to be issued and their features.
The distribution of Blockchain Tokens.
The consensus algorithm, where applicable.
Incentive mechanism to secure any transactions, and/or any other applicable fees.
In the case of a new protocol, the estimated speed of transactions.
Any applicable taxes.
Any set soft cap and hard cap for the Initial Blockchain Token Offering.
The period during which the Initial Blockchain Token Offer is open.
Any person underwriting or guaranteeing the Initial Blockchain Token Offering.
Any restrictions on the free transferability of the Blockchain Tokens being offered and the exchange(s) on which they may be traded, to the extent known by the issuer.
Methods of payment.
Specific notice that investors participating in the Initial Blockchain Token Offering will be able to get their contribution back if the soft cap is not reached at the end of the offering and a detailed description of the refund mechanism, including the expected timeline of when such refund will be completed.
Detailed description of the risks associated with the Blockchain Tokens and the investment therein.
The procedure for the exercise of any right of pre-emption.
Detailed description of the smart contract(s), if any, deployed including inter alia the adopted standards, its / their underlying protocol(s), functionality(ies), and associated operational costs.
If any smart contract/s is / are deployed by the issuer, details of the auditor who performed an audit on it / them.
Description of any restrictions embedded in the smart contract(s) deployed, if any, including inter alia any investment and / or geographical restrictions.
The oracles used to obtain data and verify occurrences from smart contracts used and detailed descriptions of their characteristics and functionality thereof.
Bonuses applicable to early investors including inter alia discounted purchase price for the Blockchain Tokens.
The period during which voluntary withdrawals are permitted by the smart contract, if any.
Description of the issuer's adopted white-listing, anti-money laundering, and countering the financing of terrorism procedures.
Intellectual property rights associated with the Initial Blockchain Token Offering and protection thereof.
The methods of and time-limits for delivery of the Blockchain Tokens.
Details of the issuer: (1) Name (2) Registered address and registration number (3) Date of registration (4) The issuer’s object(s) (5) Where applicable, the group of undertakings to which the issuer belongs (6) Indication of the members who directly or indirectly exercise or could exercise a determining role in the issuer’s administration (7) The issuer’s principal activities.
Description of the issuer's principal activities including the disclosure of any legal proceedings having an important effect on the issuer’s financial position.
Names, addresses, and functions of administrators.
The amount or estimated amount of preliminary expenses and the persons by whom any of those expenses have been paid or are payable, and the amount or estimated amount of the expenses of the issue and the persons by whom any of those expenses have been paid or are payable, in whatever form.
Where the issuer has been established for a period exceeding three years, details of its financial track record.