ICO White Paper Ghostwriters Still In High Demand In China Despite The ICO Ban
Although Chinese authorities have stepped up their efforts in cracking down on ICO activities, many professional copywriters are still offering ICO white paper services on several platforms in China, and many of them are self-media publishers in blockchain space, according to Securities Daily.
Alibaba Group’s Taobao , China’s largest online marketplace, has banned stores on the platform from providing services related to ICOs, such as white paper writing, marketing and technological development in April, and the violators would l suffer punitive measures.But even so, there are a few vendors on the site still offer tailor-made, ghostwritten “white papers” for blockchain startups.
One vendor’s sale regarding blockchain-related services has reached 1825 a month as of June 5.
And the seller told Securities Daily that prices for blockchain white paper writing services range from 5,000 yuan to 20,000 yuan, but the average is around 15,000 yuan.
“ One 20-page white paper in Chinese will cost 15,000 yuan, and the one that has 45 to 50 pages will cost 40,000 yuan.” the seller said, “ An additional 7,000 yuan to 10,000 yuan will be charged for an English version.The service usually takes 7 to 10 days to complete .”
When asked whether he would lower the price, the vendor responded that “ we have offered you the best price, and I dare say that we are the most professional service provider you can find.” What’s more, one of his buyers left a comment like this “ I’m satisfied with our cooperation for second time.”
It seems that ICO ghost writers are still in high demand in China despite the ICO ban.In addition to Taobao’s relevant services, a Baidu search with the words “ghostwriting for blockchain white paper” yields many advertisements, although Chinese search giant Baidu has banned cryptocurrency as early as 2016. The prices offered by these copy writing firms basically ranged from 30,000 yuan to 50,000 yuan, and the white paper would be completed within 7-10 days,too.
One of the ghostwriting service providers was reported to provide one-stop services for ICO issuers, such as writing white papers, creating a virtual currency, setting up a website, building a block browser, among others.The blockchain white paper ghostwritten by them usually covers 9 chapters, namely, background, industry trends, problems and solving, technical support, founding team, advisers, coin distribution, financial control and the road map. According to its official website, the company has served 13,165 clients as of June 5.
The fact that copywriters emerge in large numbers has cast doubt of the real purpose of these ICO white papers.An industry expert said that “ Issuing a white paper on blockchain applications is beyond reproach. But it should be regulated if some people use the technology as an illegal tool of financing.”