Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Buyer Beware: Report on Crypto White Papers Reveals Exaggeration, Plagiarism and Fabrication

by Daily Hodl Staff
April 23, 2019
in Blockchain
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎
‎‎‎ ‏‏‎

An investigative report by news outlet Decrypt reveals the shady business practices that can lead to overblown white papers for blockchain and cryptocurrency-related startups.

The industry relies on white papers, the authoritative reports that explore and explain a company’s core product or offering, detailing its technologies, monetary incentives and structural framework. Investors and companies often use these reports to gauge success, forge partnerships or make investment decisions. But relying on a white paper often means trusting in a work-for-hire writer who executes instructions to pad figures, among other shenanigans.

Writes Ben Munster, reporting for Decrypt,

“…many of the writers say that they are consistently required to fabricate and exaggerate facts, and are met with an alarming laziness on the part of the companies employing them.”

Last January, Patientory, a blockchain-based health management software solution for storing global medical records, claimed a Russian company called Dentalfix, seller of tooth repair kits, had copied its white paper.

We'd like to inform the community that we have no affiliation with the company, Dentalfix. The Patientory team was recently notified that Dentalfix is attempting to pass off our whitepaper as their own. We don't encourage or support plagiarism in any form. https://t.co/eb7mh1kH8k

— Patientory, Inc. (@patientory) January 23, 2018

In certain instances, research analysts believe that plagiarism extends beyond the words on a page to reflect a company’s technical capabilities. According to Digital Asset Research, lifting passages or pages of text speaks to the culture of the development team and can undermine actual technology.

Reporting last year on the 2018 controversy involving Tron’s white paper, the most high-profile blockchain project to be accused of containing plagiarized content, the company wrote,

“In early January, Juan Benet, the founder of Protocol Labs, alleged that at least 9 pages of TRON’s white paper were copied from either the Filecoin or IPFS papers, both of which were co-authored by Benet. Although Justin explained this as a mistranslation for the English version, given the amount that was copied, it is unlikely to have been a mere mistranslation.”

White paper writers reportedly make anywhere from $1,000 to $50,000 for a single report.

Says writer Adefemi Yusuff Adegoke,

“Most time[s], there are cases of funding budget padding. A project that can be executed with $180k funding budget can be padded up to $450k. And they won’t report the total amount realized during ICO.”

“Most of the fraud[s] are in the miscellaneous part of the budget. Those ones go directly into the pockets of the CEO and CTO.”

Reports an anonymous source,

“I’ve had CTOs ask me to write about patented technology from another white paper as if it were my own idea, change the words a little, and then put it in a new white paper. This is patented technology in another part of the world.”

According to Volodymyr Malyshkin, CEO of Ukraine-based white paper provider Illuminates, writers are tasked with filling in the blanks, often making up whatever it is the company executives do not understand or profess to not know.

He alleges that his white papers have helped clients raise over $12 million, and says that only one out of dozens “had any real idea about what to do from scratch.”

Decrypt says it interviewed roughly 12 white paper writers. You can check out their full investigative report here.

Follow us on Facebook            Join us on Telegram            Follow us on Twitter


Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal
    March 3, 2021
  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
  • Student Coin Found New Ways to Use Crypto
    February 24, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$49,018.00
$49,018.00
4.97%
Ethereum
$1,550.86
$1,550.86
3.64%
Binance Coin
$241.54
$241.54
5.07%
Polkadot
$36.23
$36.23
5.54%
Cardano
$1.20
$1.20
4.91%
XRP
$0.452578
$0.452578
0.59%
ADVERTISEMENT

Spotlight

  • Confusion Over Billion-Dollar Whale Transfer May Have Triggered Crypto Crash, According to On-Chain Analyst Willy Woo
    February 25, 2021
  • This Highly Misunderstood Altcoin Is Set To Explode, Says Crypto Trader Tyler Swope
    March 1, 2021
  • $630,000,000 in Bitcoin Just Left Coinbase, According to CryptoQuant
    February 26, 2021
  • Google Spotlights Bitcoin, Ethereum and Litecoin in New Finance Crypto Section
    March 2, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.