All Crypto Whitepapers: John van Rijck’s Whitepaper Database Project
John van Rijck has put together the largest whitepaper database for potential investors. The database, called All Crypto Whitepapers, currently features 1,600 crypto projects that are all available for free.
Rijck told Bitcoin News that the whitepapers are valuable and are a great method to help individuals to avoid scams. He became involved with crypto in 2016 and ultimately started looking for a way to get more involved in the community. Though he works fully time in the legal department of an IT company, he spent his free time creating a database for whitepapers to help the crypto community make better decisions about their investments.
The Value of a Whitepaper
There are differing opinions about what the most important factors are when it comes to deciding upon which project to invest in. For Rijck, the whitepaper is the ideal resource.
As he stated, “I am 100% convinced that a whitepaper is an ideal form for project owners to provide potential investors with all the necessary information on their project.”
Whitepapers are able to convey technical, financial, and commercial information in plain language, thereby enabling investors to properly judge a project’s worth.
Projects without whitepapers may pose a greater risk to investors because they are unable to make informed decisions and there is no written reference that investors can refer to if an issue does arise later. As Rijck stated, “websites can change their information anytime and promises made via other channels are easier to back out from if there’s nothing written down.”
Projects that feature commitments on a whitepaper offer higher levels of legitimacy. However, investors should also be aware that there is no guarantee that the project is completely honest. Rijck stated,
“I almost participated in scam initial coin offering that had a proper white paper . . . [t]his scamcoin used stolen pictures in their whitepaper for their product’s User Interface and their team photos were random pictures of some school board members in Australia.”
Thus, while a whitepaper is certainly a good place to start, it is best to supplement one’s research by looking at other factors.
The Whitepaper Audience
Many people turn to whitepapers and therefore, the database does have an audience. Further, Rijck makes the database easy to follow by posting the abstract or conclusion as a tidbit on the database that the reader can quickly scan to see if they want to go forward to the whitepaper.
Rijck also recognizes that even though he is enthusiastic about whitepapers, not everyone shares the same sentiment. He’s mentioned:
I get that people may think that nobody will read the white paper and there’s no added value for the site but I honestly think that only the good projects will survive in the crypto market . . . In the last bull run, so many hyped coins got bought without any logic behind it, other than it was popular and rising fast, but I think this market is growing and those unfit projects are slowly filtered out by people who’ve done their research.
Not Every Project is Worthwhile
A whitepaper is a starting point – but it should not be treated as conclusive evidence of a worthwhile project and investment. There are many projects that fail to solve actual problems and some of them are money-grabbing attempts. Rijck believes that at the end of the day, “only the good projects will survive.”
The “weeding out” of the bad projects should lead to fewer scamcoins and it should prevent inexperienced investors from losing their investments in overhyped projects or scams. Rijck also indicates that the whitepaper may be a key to help filter the quality projects from the less valuable ones. He notes,
“So many projects want to solve a problem through crypto, white doesn’t need solving at all since there are enough real-world solutions out there.”
Creating All Crypto Whitepaper
To date, All Crypto Whitepaper has 1,600 whitepapers that can be accessed by anyone and for free. Rijck explains,
“The problem is that every day about 10-15 new coins are announced on Coinmarketcap. I try to list only the coins that are being traded, to have some safeguard that it’s legit. But since this still is a one-man-show and I have a 9-to-5 and a family, I’m a bit behind.”
Even with his time constrains, Rijck hopes to be caught up by the fourth quarter of 2018. He mentions,
“I just hope that people genuinely like what I’m trying to build for the community and come back to check out white papers if they found a project that interests them. If they see the website as the Wikipedia for Crypto Whitepapers, that would be the best outcome I can imagine.”
The Website’s Future
Rijck’s website is monetized and it features advertisement that enable Rijck to receive some sort of compensation for his efforts. But that is not his main goal with the website. The purpose of the platform is to provide the community with a database that helps them make better, smarter, and improved decisions for their investments. At this point, he does not plan on selling the site, but is working to help it grow.