1. Insulation : Paper has a certain level of insulation properties due to its composition and structure. When wrapped around ice or used as a container, it can help to reduce the rate at which heat transfers into the ice.

2. Heat Transfer : Ice melts primarily due to heat transfer from the surroundings. Paper, by providing a barrier, slows down this heat transfer. This effect is similar to how a sweater keeps you warmer by trapping body heat close to your skin.

3. Moisture Absorption : Paper can absorb moisture, which could indirectly affect the ice if the paper becomes wet. However, modern paper products like waxed or coated paper are designed to resist moisture to some extent.

4. Limitations : While paper can help delay melting, it is not as effective as materials specifically designed for insulation like styrofoam or certain types of plastic foam. These materials provide better thermal insulation and are commonly used in packaging for keeping items cold.

In summary, while paper can provide some insulation to slow down ice melting, its effectiveness depends on factors such as the thickness of the paper, humidity, and the duration for which it is used. For longer-term cold storage or transport, specialized insulation materials would be more effective than paper alone.