The whitepaper of a ICO provides a detailed insight of the project including project roadmap, development, technical details and many more.Those are the main facts we can determine the credibility of the project and its approach. I think whitepaper of a ICO is really important however With or without the whitepaper and it can be turned into a scam any moment and sometimes crypto investment are risky than it seems to be.
That right, whitepaper is designed to let everyone know about how that project will develop in the future. And the idea of that project is really feasible.
How dare investors venture to invest in a project without a whitepaper, too stupid to invest in such a project and I am also sure the projects without the whitepaper are scam