What is a whitepaper in the context of business? And how is it related to the world of BlockChain & why is it considered to be more transparent than the non-digital world?
A white paper in the context of Information Technology is generally considered to be ‘a paper or a note that states an organization's philosophy about a social, political, or other subject, or a brief technical explanation of an architecture, framework, or product technology in such a way that the non-technical persons can understand the point of view of the organization about a complex matter’
With reference to the BlockChain Network, a whitepaper is a document that details what problem the project is aiming to address and how it intends to utilize blockchain technology to do so. In the context of InsCoin, whitepapers tell about the mission of the organization to remove the drawbacks of the conventional insurance policies and their manipulation by insurance providers & arrange the SMART Insurance Contracts on the BlockChain Network to build trust in the eyes of insurance clients and strengthen the image of the BlockChain Provider. Also, whitepaper provides detailed information on the ICO, funding it will need or produce and the possible utilization in the investment opportunities as per the Goal & Mission of the Organization.
The whitepaper is generally more serious in tone & sticks to the point so that the readers may get knowledge about the issue & possible address suggested by the company rather than beating about the bush. That’s why whitepapers are considered to be different from the Blogs & Articles which can go in any direction and normally take hours and days of writing. Whitepaper needs weeks of research & writing so that the content looks legal and is based upon the fact.
InsCoin has published many whitepapers to enhance the readers understanding about the platform, and one is linked as ‘https://inscoin.co/documents/Whitepaper-EN.pdf’. Where it can be seen that the purpose of the whitepaper is to remain formal, factual, informative & understandable without being wordy, irrelevant and lengthy.
The whitepaper is particularly important for the digital world because it explains things based upon facts & research. Therefore, BlockChain Networks & Insurance providers have already taken it up to disclose their mission statement, the purpose of existence and future plans.
AND InsCoin, as a digital insurance contract provider, is possibly going to be the first insurance industry with 100% Transparency in the field of Insurance and without being opportunistic for the insurance providers and thus protecting the interest of the final consumer and using BlockChain as security of Premiums, Insurance Agreements & final contracts.
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