How Does the Target Audience Differ for a Whitepaper and a Business Plan?

The whitepaper's target audience is primarily the crypto community, including potential token holders, developers, and technical analysts, who are interested in the blockchain solution and token utility. The business plan's target audience is typically traditional equity investors, venture capitalists, and bank lenders, who are focused on the company's financial viability and market strategy.

The whitepaper is a public, technical pitch; the business plan is often a private, financial and operational document.