🏅RECAP AMA EPID COMMUNITY x TRIALL

🕖AMA Timing : 19th April 5PM UTC | 12 PM (GMT +7)
🏚Venue For AMA: @EPID_Community_VN
💰Reward Pool : 100 USDT

➡️Part 1: Project Introduction.

Q1. Could you briefly introduce yourself as well as your project?

Joost Flach:
My name is Dr. Joost Flach, co-founder and Head of Clinical Affairs at Triall.

I’m a professional clinical research scientist, with a background in neuropharmacology and business management. I have a PhD in microbiology, and a long-vested interest in crypto and blockchain technology.

Within Triall, I am primarily responsible for making sure that the needs of clinical research professionals in their day-to-day operations are met by the applications we develop.

Pleasure to be here today!

Mark (Triall.io):
I’m Mark van der Waal, co-founder and Head of Product Design for Triall.io. 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.

Triall develops blockchain-integrated software solutions that optimize the reliability and efficiency of clinical trials.

Clinical trials are the 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.
By using targeted blockchain integrations, our software solutions optimize data integrity, auditability, and operational efficiency in clinical trial operations. We have been on the market with our first blockchain-integrated product since the summer of 2019.

Q2. What makes the Triall project stand out more than the projects in the same direction at the moment?

Mark (Triall.io):
That’s a great question. There are many providers of function-specific clinical trial software systems, but these existing systems come with significant limitations. There’s a multitude of systems out there that do not interact well. This contributes to fragmentation: people working in clinical trials often have to use many different software systems side by side.

There are some providers that offer all-encompassing, fully integrated software suites that offer different function-specific tools under one banner. But these are typically only affordable to the largest (say Top 20) of pharma companies (‘big pharma’). Meanwhile, the majority of clinical trial professionals are hampered by suboptimal software infrastructures.

Our blockchain infrastructure is unique because it tackles this issue of system fragmentation. Existing clinical trial software providers can connect to us, and thereby interact safely and efficiently with other solutions. We use blockchain-enabled technologies such as Decentralized Identifiers (DIDs), Verifiable Credentials, and smart contract-based permissioning for this.

Also, we offer blockchain-enabled proof of data integrity and authenticity. Uniquely, this optimizes the reliability of clinical trials. This is very important, since in clinical trials it is all about establishing conclusive data about the safety and efficacy of new vaccines or drugs. Nobody should be able to tamper with this data (intentionally or unintentionally).

In other words, we’re positioned as a gateway for safe and efficient digital cincial trial activities, offering exisitng systems and clinical trial professionals an easy entry into blockchain and its unique benefits.

MCK ở Circle K:
Q3. What are the memorable milestones of Triall in the research and development process?

Mark (Triall.io):
To summarize some of our key milestones so far:

- Working commercial product: We 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: We demonstrated the world’s first implementation of blockchain in a live and running clinical trial through the use of Verial eTMF.

- Seal of Excellence: We were awarded a Seal of Excellence for our product concepts from the European Commission’s Horizon2020 program for top research and innovation worthy of investment.

- Triall whitepaper: We released the Triall Whitepaper, which represents the blueprint for our plans and vision to build the first global, digital ecosystem for clinical trials.

- International value network: We have established a partner and advisor network that stretches the globe.

Joost Flach:
Good to mention as well that there are several more clinical trials being onboarded to Triall’s Verial eTMF!

MCK ở Circle K:
Q4. What does Triall plan to do to attract more users in the upcoming time?

Mark (Triall.io):
Adoption is key! Luckily, our team and partners equip us with an extensive network of potential clients, and close ties to key industry stakeholders. This is the result of having operated in the clinical trials industry for many years: Combined, our team has managed 100+ clinical trials and co-founded 20+ ventures in Life Sciences and B2B software, some of which have grown into successful 100+ FTE companies.

This industry network provides us with credibility and a great steppingstone for the sales & marketing of our software solutions. Besides, we have access to a global pharma intelligence database that gives us up-to-date insights into planned and ongoing clinical trials, which is amazing for targeted business development.

Moreover, we strongly believe in the power of community. Therefore, we’re heavily investing in building a strong community of synergetic partners, advisors, investors, and stakeholders that bridges the healthcare and crypto domains. We believe that bringing all these stakeholders together in one single ecosystem will lead to synergies and network effects that go beyond our imagination, spurring growth and adoption.

➡️Part 2: Question From Twitter (5 best questions).

Q1: @Wormz29
A token is a digital unit of value that exists as a registry entry on a blockchain ledger & I’ve read you have a two-token system consisting of your main utility token TRL & its internal counterpart T-CRED. So can you differentiate TRL from T-CRED & what are their uses in TRIALL?

Joost Flach:
Underpinning our ecosystem vision is a two-token system consisting of TRL and T-CRED

TRL is our main utility token and enables P2P compensation, governance, and community engagement.

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

To 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

MCK ở Circle K:
Q2: @HOngQuangt9
What is difficulities and chances that TriallOfficial face right now while crypto/blockchain market is still young and need time to grow?

Mark (Triall.io):
We’re presented with an incredible opportunity: we’re a first-mover in our industry, and are positioned to become a key ‘translational agent’ for blockchain technology in clinical trials.

As discussed before, blockchain provides a unique toolbox for our industry domain, enabling verifiable proof of data integrity, and securing and streamlining digital research activities. We see that our industry is digitalizing at a rapid pace, so these unique benefits of blockchain technology will only become more and more valuable in the future.

We have the means and the momentum to make a big positive impact. However, as a startup that develops a complex emerging technology, we also need to overcome considerable challenges. Luckily, we can draw on the extensive experience of our team, both in the clinical trials industry and in software development processes.

To summarize some of the key challenges:

- Building trust & reputation: Quickly building trust, reputation, and track-record are of key importance for any new company entering the market, considering the sometimes billion-dollar costs of product development and the safety of research subjects involved. This is especially true when you are delivering new technologies that are not yet known to the target market. Triall’s team members have managed 100+ clinical trials and have carefully built their industry network over the past 20 years.

- Compliance: Compliance and inspection-readiness are key pillars of sound and reliable clinical trial operations. While we implement radically innovate technologies, we never compromise on quality. Together with our quality & compliance advisors we ensure that Triall solutions follow (industry-specific) international quality standards and regulations.

- Certification & security: Triall builds on proven and certified technology, such as the Alfresco Content Management platform, AWS cloud services and open blockchain standards such as Decentralized Identifiers (W3C,DIF). Moreover, we leverage the strength and security of existing blockchain infrastructures, providing us with network strength and security right from the start and allowing us to fully focus on the development clinical trial software solutions.”

MCK ở Circle K:
Q3: @THORGodofthnder
I want to learn more about Triall but very little information, the community is relatively empty and little information is shared. What strategy does the Triall team have to develop the community and retain users for the long term?

Joost Flach:
While we have been active on LinkedIn and Twitter for a while now, we only recently started publicizing our project on a global scale and initiated a marketing campaign. We now engage our community members on a day-to-day bases by posting regularly in our Telegram community and social medias.

Join our telegram after this AMA to stay updated!

We believe that building a sustainable, digital ecosystem for clinical trials is greatly dependent on having a thriving community. Therefore, we are heavily investing in building a strong community of synergetic partners, advisors, (crypto) investors, and stakeholders that bridges the clinical trial and crypto domains. We also provide unique benefits to community members and token holders through token lock-up incentive schemes.

Furthermore, we have established a Triall Community Fund (TCF): an investment vehicle that holds 10% of the total $TRL token supply.

This TCF is specifically designed to reward and involve our community members.

It will ensure that the Triall ecosystem can grow globally through bottom-up, community-sourced projects and initiatives.

Examples of such projects may include a TRL (mobile) wallet, applications, token integration with other networks, marketing campaigns, websites promoting Triall, bounty programs, and competitions, or any other initiative that reaches a majority vote.

MCK ở Circle K:
Q4: @OnePlus1578
Today- New Collaborations & Partnerships are very Important for the Growth & Developments of any Project Especially for Crypto Projects ! So- Can you tell us some Recent Major Partnerships of Sportcash One Project for project Expansion & Future Plans?

Mark (Triall.io):
Well, I don’t know about the partnerships of Sportcash One, but I can definitely tell you about the great partners of the Triall project! 😁

As briefly touched upon before, 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: they are pioneering in the field of blockchain microservices and digital identity technologies. We have co-developed our first application Verial eTMF and blockchain microservices with them.

- Our main clinical operations partner CR2O.nl: a Dutch clinical contract research organization. They manage international clinical trials for vaccines and drugs on a daily basis. We can rapidly pilot test all of our new software features with them.

- Our partnership with leading blockchain development agency Applicature.com: this partnership 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 synergistic partners is key to this objective.

MCK ở Circle K:
Q5: @SmithieWing
How does Triall evaluate the investor’s role in your project? How does Triall deliver optimal returns for both projects and investors? Can I generate passive income with $TRL ? If so, please share about more issue?

Mark (Triall.io):
Interesting question, thanks.

Investors are an important stakeholder in the Triall community and ecosystem. Our tokenomics and development strategies are designed to ensure that all stakeholders in the Triall ecosystem are stimulated to create and capture value.

So to explain a bit about our tokenomics: We will 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 (which is 2,10% of the total token supply). This translates into a Market Cap of $ 916.564,- at the time of our TGE.

The token economics of TRL are designed to drive token demand (adoption & utility) and limit token supply (both circulating and total supply)

Key factors that drive TRL demand include:
(1) the release of more software solutions for clients;
(2) sales and marketing campaigns that target new regions across the globe;
(3) ecosystem network effects, by onboarding previously isolated software systems and their end-users into our ecosystem.

Key factors that limit TRL supply include:
(1) a two-token system, in which TRL is converted into T-CRED for each contract and clients pay 6 months upfront for their software subscription;
(2) lock-up incentives such as Triall memberships and rewards;
(3) a token burn policy, in which 2,5% of tokens are permanently burned when converting T-CRED back to TRL;
(4) vesting schedules for all TRL token pools.

➡️Part 3: Free asking (5 best questions)

Q1: Could you tell us more about what eTMF is actually what does it do? Could you please give us some of the roles he will play?
A: Each clinical trial must collect their essential documents in what is called a Trial Master File (TMF). This is mandated by the regulations in both the US and Europe (as well as other markets).

Examples of such essential documents include: the study protocol, investigator information, patient information, questionnaires, lab manuals, analysis plan, data sets, statistical analysis reports, etc.

Regulators can then use the TMF to reconstruct how the clinical trial was performed and verify whether it was performed reliably and according to regulations.

Once multiple clinical trials have been performed with a drug (phase 1–4), all essential documents (including the TMFs) will be submitted in the market authorization application (i.e. file for a license to sell your drug on the market).

If the data sets and TMFs are not of high-quality, the market authorization will be rejected, and the underlying clinical trials often must be reiterated, giving rise to huge additional costs.

Our Verial eTMF solution assists clinical research professionals in building their TMF in a secure and online platform, and in an easy and user-friendly manner.

It helps research professionals to build their TMF faster and more reliably, thereby reducing the overall costs of clinical trial management and drug development. All our applications are furthermore validated by real-world research professionals, to make sure they meet their needs.

Uniquely, we are the only company (to date) that actively utilizes blockchain technology in clinical trials. For all essential documents that are stored in the Verial eTMF, a hash of the document is registered on the blockchain.

This provides regulators with improvement insight into the authenticity and reliability of the research data (over the entire clinical development timeline of 10+ years) and expedites the drug development and market authorisation process.

Our Verial eTMF is now being used and onboarded in multiple real-world clinical trials with paying customers. Together, we help to bring new medicines to patients faster and cheaper.

In the regard, the Verial eTMF will also be used to support the development of new vaccines for COVID-19!

Benefits for token holders: the Verial eTMF can only be used by paying with TRL (after the TGE). Therefore, if more users have a license to the eTMF, the more demand there will be for the TRL token, thereby driving up the value of TRL.

Q2: Triall will introduce a two-token system consisting of the primary utility token (TRL) and its internal counterpart, the Triall application credit (T-CRED). Why did you decide to create a two-token system instead of creating a single token with all the features you wanted?
A: Indeed, TRL is our main network token (tradable on the crypto market), and T-CRED is the internal token, used to pay for applications.

The two-token system is designed to not expose end users (clinical trial professionals) to the volatility of the crypto market. The Triall Application Credit (T-CRED) is created by converting TRL at a fixed price of $100,- through a smart contract and oracle. This makes the costs of using Triall applications predictable for end users, and thereby limits continuity risks and promotes adoption.

By the way, to promote adoption, end users will not have to deal with crypto: they can just pay in fiat money, and the Triall Foundation will manage the process in which TRL and T-CRED are involved. More users, more adoption of TRL and T-CRED.

Q3: As a community driven project and me a developer am interested in contributing to the project, do you have such programs?
A: The Triall Community Fund (TCF) is established to help the Triall ecosystem grow globally through community-sponsored projects and initiatives.

Examples of such projects may include a TRL (mobile) wallet, applications, token integration with other networks, marketing campaigns, websites promoting Triall, bounty programs, and competitions, or any other initiative that reaches a majority vote.

In this regard, Triall Community members can propose any idea (as long as they relate to Triall), and the winning initiative will be funded by Triall through the TCF. Winners will be selected via public voting rounds.

The first round of voting will select 5 initiatives, which will then be offered the opportunity to further defend their proposal. Of these, 1 winning initiative will be select in the final voting round, and this project will be funded and support by Triall.

After the initial pool of 10% of TRL tokens has been depleted, part of the sustainable operating income from Triall may be reinvested into the TCF to ensure continuity.

Hope that clarifies a bit; we very much welcome your contributions to the Triall ecosystem and hope to see you in our community channels!

Q4: Truly, you’ve done AMA in many telegram groups, so what next, what other way will you make your project more popular?
A: Correct, we’re doing many AMA sessions these weeks to introduce our project to the world. In parallel, we’re currently selecting and onboarding investors for our Private Pre-sale cohort. We want to select investors that can add great value to the growth and popularity of our project, for instance by contributing to marketing and strategic partnering.

Together with our Private Pre-sale investors, we will then move to the subsequent stages of our token sale. First the Retail Pre-sale, and then a main sale. This sequential strategy is designed to spur awareness across the world. We’re very happy to be advised by industry-leading blockchain marketing agency Applicature, who have implemented many successful high-growth crypto projects in the past!

Finally, we have established the Triall Community Fund, which is allocated 10% of the total $TRL token supply. Community members can propose Triall projects, such as marketing campaigns, and winning proposals will be funded by the Triall Community Fund. This promises to further stimulate project growth and adoption.

Q5: Many projects fail because they do not understand their target audience and their customer. And so I want to ask: Who is the most ideal customer for your product?
A: Triall targets many different clients within the clinical research market. These are for instance, Pharma-companies, Contract Research Organizations (CROs), Academic Hospitals, Biotech and medical device companies. Particularly, we target small to mid-size companies with a sub-optimal research infrastructure, which make up well over 70% of the total clinical trial market.

Our primary geographical target market is, initially, in Europe and the US. But the clinical trial markets are currently growing rapidly in many developing countries. Triall wants to make high-quality and user-friendly eClinical software available to researchers globally and will initiate a global market campaign to grow the first version of the Triall Ecosystem. As part of our socially responsible operations, we also offer discount to projects with strong societal impact and truly aim to collaborate on multiple levels with our clients. We believe that together, we can make new medicines available to patients in need, faster and more affordable.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store