In its simplest definition, a "White Paper" is a technical report of a blockchain technology. It aims to tell investors and other parties the blueprint of the respective cryptocurrency. An organization or person initiating a new cryptocurrency prepares a White Paper to comprehensively communicate all technical, financial and business information about it.

Cryptocurrency and blockchain organizations use whitepapers as a marketing tool. Blockchain technology whitepapers offer clients the opportunity to make decisions such as directly communicating between cryptocurrency and potential investors or other interested readers prior to the "Initial Coin Offering (ICO)" process.

The first thing a savvy person or organization does to invest in a cryptocurrency is to read a White Paper.