The cryptocurrency ecosystem is still reeling with the news that John McAfee is offering to freelance its White Papers, and suddenly wondering whether these documents will open up a way into the essay-writing pools so prevalent in academia. For new ventures, it suddenly looks vastly more important to choose a credible advisor before going public with an ICO.

There are many kinds of wrong advisors, from the self-proclaimed gurus like McAfee to the figurehead names who will be happy to put their bio on your web page – for a substantial fee. A genuine advisor should be someone not only knowledgeable about the processes and requirements of launching an ICO, but also an actual enthusiast and evangelist for the technology.

It should be someone who has a demonstrated track record of prior achievement, and a vision that resonates with your own. Furthermore, there should be at least four other people of a similar calibre on board, because blockchain is all about decentralisation and consensus, and a collective approach is essential for contributing a variety of perspectives.

If you can inspire five reputable experts who have already been involved in successful project launches, then you might start thinking about writing a White Paper – but not before.