Q&ACategory: StartupIs there any standard format for blockchain business proposal?
Jasmine Lee asked 3 months ago

I have an idea with some business models using blockchain.

To show my idea to other people what kind of reports should I prepare? Can you give me a list of contents? I can only think of the following contents.

  • Vision
  • Business model
  • Architecture diagram
  • How we can do it (and create some flow from the end user side. The architecture will include payment way with tokens, storage (blockchain or offchain).
  • What technologies should will use
  • What resources we need to deliver
  • What will be budget and timeline

Is there any standard format for blockchain business proposal?

1 Answers
Melvin Wong Staff answered 3 months ago

Hi Jasmine,

Good question. When you mentioned blockchain business proposal, I’m assuming you are referring to blockchain or ICO (Initial Coin Offering) whitepaper. Below are the definitions of blockchain whitepaper and business plan. I’m using a business plan as a comparison as I believe most of us are more familiar with that document and it helps us to understand the true nature of a whitepaper if we have something to compare it to.

  • A blockchain/ICO whitepaper is an authoritative and persuasive in-depth document that informs readers about a business and technical plan to use cryptocurrency and/or blockchain technology to solve a problem.
  • A business plan is a persuasive business document to inform its readers about the plan for a company to sell its product or service to its customers in order to make a profit.

Below is the comparison between the contents of a blockchain whitepaper and a business plan.

Difference Between Blockchain ICO Whitepaper and Business Plan

For a whitepaper, you should elaborate more on the technical aspect of your idea. Things you should cover are the overall architecture, use of blockchain technology, technical methodology, use cases and more. To illustrate further, below are some examples of blockchain and ICO whitepapers.

  • Bitcoin whitepaper  – The first whitepaper was ever written about blockchain. It was written by Satoshi Nakamoto.
  • Filecoin whitepaper – A highly technical blockchain whitepaper from FileCoin – a decentralized file storage network. It’s like Dropbox where you share your PC storage space to earn their coins. They raised USD257 million just with that single idea.
  • World of WiFi ICO whitepaper – A highly business oriented ICO whitepaper that raised USD20 million for their blockchain project.

 

Melvin Wong Staff replied 1 month ago

Hi Jasmine,

I hope my answer above was helpful. If you need more help, please post here or you may open a new private question.