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As it’s impossible to imagine today’s rapidly evolving crypto space without the ever-growing number of startups, teams behind them have to severely compete for funds. Here’s how multilingual white paper could help win the competitive advantage.
All startups have at least some similar steps they take to get off the ground. They conduct a competitive analysis. They define their target market. They create financial forecasts to help predict when, where, and how much money they stand to make. Most create a marketing plan, and create some sort of road map for the future.
Taking these steps helps startups to create a path forward. It also provides investors with the assurances they need that the company is viable and on the right path.
Cryptocurrencies take an additional step. They create white papers. These are written for the benefit of potential users and investors, and provide a thorough explanation of the currency being launched.
The white paper will include a variety of information including the technical stack behind the coin, the startup team, and how it will be launched. The idea is to prove the coin is worthwhile, and to create understanding.
Cryptocurrency on an International Scale
Other ventures start locally and then expand. Cryptocurrencies begin on an international scale. They simply must in order to gain the traction they need. Because of this, it’s imperative to release crypto white papers in multiple languages.
By taking this step, they create the visibility required to make the currency attractive. Multilingual white papers simply reach a larger audience. It’s an integral part of startup preparation.
By creating that larger audience, you create a larger pool of potential customers and investors. You also increase the chance of your white paper being shared, and it reaching that one investor or investor group that can really make a difference in your launch.
A Great Translation Creates Understanding
The people who will invest in cryptocurrency are the people who understand it, believe in it, and have faith in the startup behind it. By translating the white paper into multiple languages, a company makes that understanding and trust possible. It’s also a matter of respect. People simply appreciate it when others make an effort to communicate with them in their own language.
To create a quality white paper translation, it’s imperative to begin with a white paper that is clearly written and has a clean structure.
Remember that the key is readability, no matter who your audience is. Divide the paper into logical sections. Use small paragraphs and short sentences. Highlight main points in bold. Add bullet points and numbered lists. This also makes important items stand out.
User interest is extremely important. White papers should never be tedious or difficult to read. Taking simple actions such as providing plenty of white space and some meaningful visuals can really help.
ICO White Papers Must Contain a Combination of Clear Technical And Nontechnical Information
There are a variety of people who will review an ICO white paper. A large majority of them do not have strong, technical backgrounds. It’s important to keep that in mind. On the other hand, there will certainly be some readers who are. Balancing the information you provide for both groups can be a challenge.
Provide simple but thorough information. You can also structure your white paper so that the more technically-minded reader is provided with a path to dig further. Again, great visuals work very well in explaining technical concepts to people of all abilities.
To ensure that your white paper is as professional and polished as it needs to be, a bit of professional editing or proofreading may be in order.
When your final copy is at its best state, a translator will have a much easier time creating an accurate translation. You’ll get your best results by working with a technical translator who has some crypto experience.
More on Visuals
Another area where crypto startups often struggle is creating the visual content they need to make their white papers valuable to their audience. In many cases, they have plenty of data, but lack the tools and skill set to turn that data into charts, tables, and infographics. This is problematic, because it is these elements that make these white papers effective.
More importantly, images are such an important part of both the original and the translation. If anything is lost in language differences, visuals can be used to make up for that different. This is so important to the final product that it might be a wise idea to engage the services of a brand or tool that offers visual content creation and graphic design such as Piktochart, TrustMyPaper, or Venggage.
International Visibility is a Must For Companies That Want to Launch a Competitive ICO
You’re going to need the support of an international base in order to have a successful launch. That’s been the truth for every other successful, crypto initiative. On this global scale, there will be buyers and investors, and none of them will make a move until your white paper impresses them.
Your paper must be accurate, compelling, and written in their language. It’s a smart business move. It’s respectful. It’s culturally sensitive. It also prepares you for the ongoing realities of operating a startup on an international scale.
Remember, that only 48% of ICOs were successful last year. There’s a significant amount of competition out there, and your launch has to grab attention. Your viable competitors are creating multilingual white papers. If you want to stand up to them, you are going to have to do the same thing.
Final Thoughts on Multilingual White Papers For ICO
There is no denying that this is a significant project to undertake. Creating a white paper itself is a challenge. Preparing it for translation and localization requires even more effort and resources. Still, to launch an ICO that is profitable, there’s really no other options. There are global investors who are interested in putting their money behind cryptocurrencies.
You just have to speak their language.