AMA Recap Crypto Library With Triall



On 22th April 2021, Triall conducted an AMA in the Crypto Library Community. Our guest is Raymond van der Waal and Mark

Lots of questions as usual from the Community about Triall progress. The Triall team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into Triall.

Let’s take a look at the most interesting points of our conversation.

INTRODUCTION
Crypto Library Team :
So, before we start the AMA could you please introduce yourself to our community?

Mark (Triall.io) :
I'm Mark van der Waal, co-founder and Head of Product Design for Triall. Also a PhD candidate in Health Technology Innovation. At Triall, I oversee design and development of our blockchain-integrated software solutions for clinical trial professionals.

Raymond Van Der Waal (Triall.io) :
My name is Raymond van der Waal and I’m co-founder and Head of Marketing at Triall, where I’m currently lead responsible for all of our marketing, communication, and business development activities. My background is in biomedical sciences and business management and I have previously built experience as a researcher, entrepreneur, and consultant
FIRST SEGMENT (HOST)
Crypto Library Team :
What is Triall? And how is the story behind the Triall Creation?

Mark (Triall.io) :
Triall is a project that we started early 2017, based on our experiences in the management of clinical trials. At Triall, we develop blockchain-integrated software solutions that promote reliability and efficiency of clinical trials. So what are clinical trials? 

Clinical trials are research studies that are necessary to evaluate the safety and efficacy of new vaccines and medicines before these enter the market. I think that everyone around the world understands the importance of having safe and effective vaccines and medicines, especially in emergency situations such as now with COVID-19. The name stems from trial + ledger = triall! 

By using targeted blockchain integrations, our solutions optimize data integrity, auditability, and operational efficiency in clinical trial operations. 

The story behind Triall is rooted in medical research: Our team has been coordinating international clinical trials for many years. In doing so, we identified significant industry problems that should be addressed to ensure that future development of vaccines and therapeutics can be done safely and efficiently.

We bring together a group of clinical operations experts, enterprise IT specialists, and blockchain developers. Our founding team members have all worked together over the past 5-10 years in business and academia.

Combined, our team has managed 100+ clinical trials and co-founded 20+ ventures in medical research/clinical trials and B2B software. This experience has left us with deep roots in the clinical trial industry and strong ties to blockchain and IT standards groups (W3C, DIF, IEEE).

These connections allow us to rapidly pilot test new software features with medical researchers who are working in clinical trials on a daily basis. It also provides us with the insights and network to continue operating at the forefront of industry developments.

Crypto Library Team :
What are the advantages does Triall have? Which makes Triall different from other projects out there?

Mark (Triall.io) :
We're the world's first organization to have implemented blockchain technology in live and running clinical trials. We're a frontrunner in applying blockchain to address two crucial industry-wide needs:

(1) the need for traceability and auditability of clinical trial activities (which have become increasingly complex and digital / data-heavy)

(2) the need for mechanisms that can ensure safe and compliant exchanges of medical data between all organizations and systems involved in clinical trial projects

Currently, there's the issue of fragmentation: clinical trial professionals use many different isolated systems side by side. This leads to a lack of oversight, and data management issues

Regarding (1), we have a working product since the summer of 2019, called Verial eTMF. It enables users to create verifiable proof of the existence and integrity of their trial-related documents, through the creation of blockchain-registered immutable audit trials.

In addition, documents and other file formats can be signed using blockchain-registered digital signatures that allow parallel signing of any file type, while also safeguarding the authenticity of the signed document version or data object. Lastly, Verial eTMF will offer AI-enabled automatic document classification to speed up document management workflows. 

This feature set is unique in the market, and fully answers to calls for improved data traceability and auditability by authorities such as the US FDA and the EMA.

Regarding (2), we will introduce a blockchain-enabled decentralized identity and access management layer that enables secure and efficient connections between currently isolated clinical trial software systems and their users. By connecting to our ecosystem, third-party systems and their users can authenticate their data using our blockchain infrastructure. Moreover, they can exchange data with other systems and users in our ecosystem in a secure and efficient way.

This is a much-needed, but currently non-existing 'ecosystem' approach, through which we will tacke some of the most significant issues in the current digital clinical trials environment. We're positioned to become a major infrastructure player for the future digital clinical trials ecosystem. And by taking this ecosystem approach, we will effectively turn competitors into collaborators.

We have been lucky enough to partner with some of the most forward-thinking players in blockchain and decentralized identity technology very early on. We're the first one in the industry to be developing these solutions. This provides Triall the unique opportunity te become one of the key infrastructure players in the future digital environment of clinical trials. Since in clinical trials it's all about establishing conclusive data about the safety and efficacy of vaccines and therapeutics, blockchain will become a crucial tool in the future.

Crypto Library Team :
Could you provide some information about your Roadmap, and what are some achievements that Triall achieved so far?

Mark (Triall.io) :
We actually just released the 2.0 version of the Triall Whitepaper, which is a major update since the first version that was released back in 2019. It includes a very detailed roadmap as well, so make sure to check it out: https://www.triall.io/wp-content/uploads/2021/04/Triall-Whitepaper-v2.1.pdf

We have numerous innovations that we plan to develop and release in 2021. First, we will extend Verial eTMF with more features that streamline clinical trial document filing such as AI-enabled automatic document classification and blockchain-registered digital signatures.

Second, we will introduce Triall CTMS, a clinical trial management system for planning and oversight that reads and integrates data from other connected 'eClinical solutions' (industry jargon for software applications). In parallel to these core applications, we offer APIs that enable third-party eClinical solution providers to synergize with our infrastructure, by integrating with our blockchain features and Triall solutions.

Going beyond 2021, we will release Atena PRM, a partnering and communication platform that will speed up clinical trial startup times, and we will develop several patient-level applications that focus on patient engagement and recruitment.

Some of the milestones we achieved so far:
Working commercial product: Developed and commercialized Verial eTMF; a clinical document management solution with blockchain proofs of data integrity and authenticity.

World's first implementation of blockchain in clinical trials: Demonstrated the world's first implementation of blockchain in a live and running clinical trial through the use of Verial eTMF.

Seal of Excellence: Received Seal of Excellence for Verial eTMF from the European Commission’s Horizon2020 program for top research and innovation

Triall whitepaper: Released the Triall Whitepaper, which provides the blueprint for our plans and vision

International value network: Built a global partner and advisor network.

Crypto Library Team :
Please tell us about Triall token $TRL! What are the token use-case, distribution, price, and is the presale still going on?

Mark (Triall.io) :
The token generation event is forthcoming. Currently rolling out the pre-sale. We welcome interested parties to register their interest through our website triall.io

We have a two-token system that underpins our 'digital ecosystem' vision. It consists of $TRL (our main utility token) and T-CRED (our internal ecosystem token).

$TRL enables P2P compensation, governance, and community engagement within our digital ecosystem.

T-CRED can only be created by converting $TRL, is used to pay for Triall solutions, and is designed with the clinical trial professional (end user of our solutions) in mind.

We plan to issue a total of 175M $TRL tokens. Due to our vesting schedules, the circulating supply at the time of our TGE will only be 3.666.250 TRL (2,10% of the total supply). This translates into a Market Cap of $ 916.564,- at the time of our TGE.

Let me briefly sum up the utility of our two-token system
- Means of payment for all Triall solutions: by converting TRL to T-CRED
- P2P compensation of stakeholders in the ecosystem
- Engage and incentivize stakeholders for providing value to the ecosystem: development, bug hunting, best practices, etc.
- Governance: include stakeholders in setting the course of the ecosystem
- Memberships & community rewards: loyalty programs with rewards for end-users and community members

Crypto Library Team :
What are the future Goals of Triall?

Mark (Triall.io) :
To summarize our primary goal: the establishment of the world's first digital ecosystem for clinical trials. This would be a major achievement for our industry, and would lay the groundwork for safe and efficient future development of vaccines and therapeutics.

We realize this is a bold objective, and we therefore adhere to an agile development approach:
We're currently working towards what we call a 'minimum viable ecosystem' (MVE) of clinical trial software solutions. This MVE will comprise the core function-specific solutions that are necessary to conduct clinical trials. We have already commercialized the first of these solutions (Verial eTMF, enabling blockchain proofs for essential trial documents), and will gradually release the rest of these core solutions.

In parallel, we are releasing an API library that enables existing, currently isolated clinical trial software systems to connect to our ecosystem.

Through our blockchain back-end, they will be enabled to communicate with us and other systems in a safe and compliant way. We make use of decentralized identifiers (DIDs) to facilitate this.

This ecosystem objective will enable systems and their users to act in concert. This could lead to synergies and network effects that go beyond our imagination.
SECOND SEGMENT (TWITTER)
Crypto Library Team :
What’s your role in the crypto market, I mean how users get benefits from investing in Triall?

Mark (Triall.io) :
Token investors are an important part of our ecosystem, and we have made sure that they will be incentivized to create and capture value in the Triall project.

This starts with the establishment of a solid token economic model. We have been lucky to work with Applicature, who have done many successful token projects over recent years. Specifics of our tokenomics can be found in our whitepaper and other materials

Triall offers memberships and rewards for token holders who lock-up their tokens. We also have implemented several mechanisms that should increase the value of our token over time. These mechanisms are designed to drive token demand, and limit token supply (for instance through a token burn policy). We're one of the few healthcare/medical research projects out there. Our roots really are in our industry domain. So we are positioned as a great 'translational agent' for crypto and blockchain players that are interested to enter healthcare.

Crypto Library Team :
Triall aims to help the healthcare field by providing software for medical research and clinical trials. So, can you tell us more about how Triall will be able to help if a situation similar to COVID-19 ever happens?

Mark (Triall.io) :
Our role is to support developers of vaccines, drugs, and other medical solutions in securing and streamlining their development processes. Interestingly, our first product (Verial eTMF) is already being used by a client that performs a clinical trial to develop a new COVID-19 vaccine. So while we are definitely not developing vaccines or drugs ourselves, we make sure that others are able to do it more efficiently and more reliably.

Second of all:
Going beyond the first series of core applications that we are developing, blockchain technology offers tremendous opportunities for improving global response to infectious disease outbreaks, such as the COVID-19 pandemic.

I myself have actually led a research project, together with partners such as the Dutch Center for Infectious Disease Control and Vrije Universiteit Amsterdam.

And the key focus of this project was on investigating the promises and challenges of blockchain technology for infectiouse disease control. This research was published in the renowned journal Science: https://science.sciencemag.org/content/368/6492/719

In summary: blockchain offers amazing tools for coordinating data sharing and cooperation between infectious disease researchers globally.

Crypto Library Team :
On their website they talk about the underlying products having been validated with a "Seal of Excellence" by industry experts from the Horizon2020 program. But how does this seal positively influence Triall development? Will this approval open up great opportunities for Triall?

Mark (Triall.io) :
We were very happy with the award of this Seal of Excellence, because it was given after critical evaluation by two independent panels of industry experts. It's great to have such external validation for your concepts. It strengthens our confidence that we're on the right path. It also strengthens the confidence among potential partners, investors, and customers that Triall is a credible organization, with promising products. Indeed, this has opened up opportunities for partnering and marketing, and will do so in the future.

Crypto Library Team :
Can you tell me about your first product, "Verial eTMF", was it successful? and in which cases can this product be used? In addition to this I would like to know if you have any plans to launch more products?

Mark (Triall.io) :
Verial eTMF is a document management solution that is tailored to clinical trial projects. It enables clinical researchers to establish the 'Trial Master File' (TMF): the collection of essential clinical trial documents that should be inspection-ready at all times. What's unique about our eTMF solution is that it is integrated with the blockchain. Hence, it enables clinical researchers to create verifiable proofs of the existence, integrity, and authenticity of these essential clinical trial documents. This is a unique feature set, that fully answers to calls for better data traceability and integrity by authorities globally.

We have successfully commercialized the MVP version of Verial eTMF, and are now extending the product with features that should strengthen its competitive advantage (e.g., automatic document classification).

Next products in line are: Triall CTMS (clinical trial management system) and Atena PRM (partner relationship management platform). Check out our whitepaper for details! Available for download on our website triall.io

Crypto Library Team :
What makes you feel confident about the survival & sustainable success of Your project in the near future? While you build your project, do you take into account community feedbacks and demands?

Mark (Triall.io) :
To answer the latter part of your question first: definitely! If you want to establish a successful, sustainable ecosystem, you should make sure that all stakeholders are heard and included. Therefore, community engagement and inclusivity are anchored into our governance model.

For instance, we have established a Triall Community Fund (comprising 10% of the total $TRL token supply). This investment vehicle will stimulate bottom-up initiatives. The community can vote for proposed initiatives, and the best community initiatives will be funded by Triall.

Regarding the first part: We have been operating in our industry for decades. These industry operations have gained us a strong value network of partners and potential customers that stretches the globe. Also, leading stakeholders in our customer domain have expressed interest in our first products, which directly respond to actual customer pain points. This makes us confident that we will be successful with the strategies and plans that we have.
THIRD SEGMENT (LIVE QUESTIONS) 
Crypto Library Team :
What your plans in place for global expansion, are you focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships?

Mark (Triall.io) :
We bring together a group of clinical operations experts, enterprise IT specialists, and blockchain developers. Our founding team members have all worked together over the past 5-10 years in business and academia. Our team houses clinical trial experts from several medical disciplines. These include globally recognized thought leaders that have published extensively on topics such as immunology, infectious diseases, vaccinology, microbiology, eHealth technologies, drug and vaccine development. As a result, we have strong roots to partner and customer networks around the world, especially in the US and in Europe where we will launch first.

Crypto Library Team :
Do you have any Bug Bounty to check for vulnerabilities ?You have how much wallet connection now which is more than many other initiatives. How many will you add more in near future?

Mark (Triall.io) :
We will have a bug bounty program running, where we will be promoting responsible disclosure and are categorizing bugs and attack vectors by severity and impact, which do get rewards whenever the hacker has submitted the bug responsibly, allowing us the address the issue before public disclosure. We have people with experience with running a bug bounty program.

Crypto Library Team :
What is the GAP you are addressing in the market? What is the opportunity you are exploring? What is the problem you are trying to solve?

Mark (Triall.io) :
If I would have to pick one I would say: lack of interoperability.

The clinical trial industry has become increasingly fragmented over the past decades, with modern trials including more (electronic) medical data sources, collecting more data, and involving a multitude of often isolated software systems to handle data. 

It’s not surprising that clinical trial professionals widely indicate to suffer from a lack of oversight in their daily clinical trial operations. This translates into process delays, reiterations, longer development timelines and higher costs for new medical solutions. According to regulators and health authorities worldwide, this problem is also at the source of the growing number of data integrity issues reported during clinical trial inspections.

Blockchain-enabled technologies such as decentralized identifiers (DIDs) and verifiable credentials (VCs) offer amazing opportunities for improving interoperability in clinical trials. Our vision is leveraging DIDs and VCs to shape a decentralized identity and access management layer that revolutionizes data discovery and exchange, optimizing privacy, security, and operational efficiency.

Crypto Library Team :
A partnership is essential for Adoption, so can you tell us what partners you have now and in the future?

Mark (Triall.io) :
Triall is supported by an international network of partners that bridges the healthcare and blockchain domains. Partnerships that have been instrumental to our success so far include our technology partner Sphereon.com  (with whom we have co-developed our first application Verial eTMF and blockchain microservices), and our clinical operations partner CR2O.nl (a clinical contract research organization that operates in international clinical trials for vaccines and drugs on a daily basis, and with whom we can rapidly pilot test our sofware solutions).

Moreover, our partnership with leading blockchain development agency Applicature.com has been key to the design, preparation and execution of our token sale, which is now in full swing. Currently, we're in talks with many more strategic partners in the healthcare and blockchain domains, who will be gradually announced over the coming period. Our core focus is the sustainable growth of our ecosystem and its underlying token $TRL, and onboarding new partners is key to this objective.

Crypto Library Team :
Can you provide an overview of tokenomics with $TRL tokens at #Triall and are there any token burn plans, then where can I buy $TRL Can you provide a smart contract to avoid fraud?

Mark (Triall.io) :
So, as briefly addressed before we plan to issue a total of 175M $TRL tokens. Of these, 18% will be sold in our Pre-sale rounds. Moreover, its good to mention that all (!) our token pools follow a vesting schedule. This is to promote the sustainable growth of $TRL. Smart contracts are developed by our expert partner Applicature, and audited by an independent auditing organization to assure security.

For more info I can highly recommend this article: https://insights.triall.io/triall-pre-sale-details-token-allocation

If you're interested in joining our Pre-sale, please register your interest on our website www.triall.io.


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