Interview: block chain white paper writer confesses

According to DecryptpostEveryone in the encryption world knows what a white paper is. But who wrote all this stuff?

It turned out, based on a massive two-week declassification investigation, that the writing of the papers was largely outsourced to contractors -- many of whom had very limited technical knowledge.

Some are freelancers, while many others are employed by private white paper factories. They can earn between $10, 000 and $50, 000, but it can take them up to eight months of hard work to earn the money. Most people find their employers through social media, such as Upwork, LinkedIn and Facebook.

The good news is that most of the white paper authors interviewed reported on the recent recovery in encryption, which (perhaps?) Is another leading indicator that encryption is recovering from a long, wilting winter. The bad news is that many white paper authors say they are routinely asked by employers to fabricate and exaggerate facts, and that the companies that employ them are surprisingly lazy.

Prolific white paper generation writers Adefemi Yusuff by said: "most of the time, (the project or company) have exaggerated budget situation." a $1.8 billion budget can be used to perform the project, the employer will ask add budget to $4.5 billion. They won't report the implementation of the total amount of the actual during the ICO. He said: "most of the fraud happened in miscellaneous expenses budget." the money directly to the CEO and CTO pockets.

Sometimes the reality is even earlier. According to Ukraine's white paper Illuminates supplier company CEO Volodymyr Malyshkin, many enterprises enter the block chain, tend to be what you want to build, even know almost nothing about how to build just hope the word block chain to attract investors. This means that the white paper's business model is likely to be created by the white paper authors for their clients. Of the dozens of clients, Malyshkin says, "only one really knows how to start from scratch."

A senior consultant at a leading blockchain consultancy said it was not a matter of start-up ignorance but a simple, calculated cynicism. "In my experience, it usually works like this -- a group of people want to raise money, they buy a consulting service that includes figuring out how to raise money, what message they need to get across, what they need to have in the white paper, etc. That's it," he said. "Very few people are interested in the 'cryptography initiative' part of the white paper. They just want to raise money, everything else is for that purpose."

"A couple of ctos asked me to write about the patented technology in another white paper, as if it were my own idea," said a us deputy white paper author who asked not to be named. "they tweaked the text a bit and put it in a new white paper of their own." "It's a proprietary technology from another part of the world."

Hassan Sa & # 39; Mr Eed is another Nigerian white paper contractor who claims to have written it for a prominent exchange. It's a singapore-based cryptocurrency exchange.

Often, something that helps spark investment interest is deliberately included in the white paper, whether or not it has any basis in fact. At the height of an ICO, for example, it was enough to include influencers as team members in white papers. Now it seems that investors are more likely to see "doable" projects.

"I also write for some bad [projects] if they get paid well. But I won't let my name be on the team," says one white paper writer. Many white paper authors share the view that even the stupidest ideas are an opportunity to make money.

"There are no stupid ideas," Malyshkin said. "We will never reject any start-up that needs a white paper."

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