Here’s our 67th AMA recap!

Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with Triall on April 23, 2021. This guest star,

  • Raymond wan der Waal — Head of Marketing

Introduction

Raymond van der Waal,
Sure, 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

Sure, Triall brings 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 Life Sciences 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)

What are the advantages of Triall compared to other alternatives in the Blockchain field? What features make Triall stand ahead from the competitors?

Raymond van der Waal,
Ok, let me first briefly explain what we do

At Triall, we develop blockchain-integrated software that promotes the efficiency of 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 now understands the importance of having safe and effective vaccines and medicines, especially in emergency situations such with COVID-19

By using targeted blockchain integrations, our software optimizes data integrity, auditability, and operational efficiency in clinical trial operations

So our advantage to other projects:

As the world’s first organization to implement blockchain clinical trials, we are a frontrunner in applying blockchain to address two essential industry-wide needs:
(1) promoting traceability and auditability of clinical trial operations, which have become increasingly complex and data-heavy; and
(2) enabling the safe and compliant transfer of clinical trial data between organizations and systems, thereby promoting interoperability and tackling data compartmentalization.

We have been working on this project for 4 years now, have a working commercial project with multiple clients and surrounding international network of partners and advisors 🙂

As we all know, Triall has two token systems consisting of TRL and T-CRED. what are the use cases of these two token systems in the Triall ecosystem? What benefits can be obtained by holding it?

Raymond van der Waal,
Yes. So all of our software solutions will gradually build towards the world’s first blockchain-enabled digital ecosystem for clinical trials

Underpinning this ‘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 within the ecosystem

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

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

Hm it will be a best part to invest. And by the way, TRL now is Pre Sale right ?

Raymond van der Waal,
Correct. We welcome everyone to register their interest on our website (triall.io)

Our team members will reach out to everyone that signs up :)

Regarding security and transparency, how can you assure us that your security is strong enough to protect every client data? Has Triall been audited?

Raymond van der Waal,
So security and privacy are a primary concern in clinical research

You’re dealing with sensitive medical data

A lot of different stakeholders and regulations

Having immutable data in the mix complicates this even more…

Luckily, we have experienced people on board that know that you should never put Personally Identifiable Information on a blockchain, but only the proofs of that data. We will be working with so called Decentralized Identifiers for idenitity purposes, where data is stored off-chain, but the proofs of that data is stored on-chain. This data is encrypted in some cases even on a P2P basis, so that nobody can access that data in case of a breach of an IT system

On the technical side there is also risks involved in smart contracts. We can do a lot withouth smart contracts, but whenever we use smart contract technology we always ensure that these contracts are audited by an external 3rd-party

Also good to mention: we will always comply with relevant regulations (ISO, HIPAA, GDPR, eIDAS, ETSI) to ensure our operational practices are in order 🤓

The safety and well-being of patients is involved, so we need to be extra careful :)

Can you tell us a little about Triall roadmap going forward, how do you plan user orientation and get more adoption?

Raymond van der Waal,
Absolutely

So our first product Verial eTMF (a blockchain-integrated document management solution for clinical trial professionals) is fully operational and used in multiple clinical trial projects at the moment

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

All of our software is designed, tested, and validated in close collaboration with clinical trial professionals who work in clinical trials on a daily basis

Yes, for (even) more info and details, check out our whitepaper: https://t.me/triallcommunity/4302

TWITTER QUESTIONS

From : @Mama25MoTriall’s mission is to accelerate the introduction of safe and affordable vaccines and therapeutics by streamlining modern clinical trial operations. What do you mean by “streamlining modern clinical trial operations”?

Raymond van der Waal,
Excellent question

We see several major trends in ‘modern’/today’s clinical trial operations: digitalization, decentralization, and increasing complexity

These trends come with significant problems, in terms of data integrity, privacy, integration, and regulatory challenges. In fact, authorities such as the US FDA and EMA call for novel approaches to ensure the reliability of digital clinical trial processes

In medical research and clinical trials, it is all about the establishment of conclusive evidence about the safety and efficacy of new vaccines and drugs. But due to digitalization trends and the adoption of more and more mobile devices, clinical trial organizations struggle to find solutions to prevent that data is not (un)intentionally manipulated, and solutions to ensure safe and efficient exchanges of clinical trial data

Our solutions aim to secure and streamline this modern, digital operating model in clinical trials

From : @LidiamgaThey 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 the development of Triall ? This approval will open up great opportunities for triall?

Raymond van der Waal,
Another great question

So this ‘Seal of Excellence’ is awarded after careful review by industry experts of the European Commision’s Horizon2020 program for top research and innovation. It certified that our product proposal was high-quality, and this strengthened our confidence, and our reputation among investors, partners, and customers. It’s always great to receive such external validation for designs and plans that you’ve been working on internally. Especially when the validators are in fact expert panels of the European Commission! 😇

From : @benzencloHow do you think the TRIALL case team can overcome all the regulations that countries have? Do you plan to cover the whole market or focus only on a certain group of countries?

Raymond van der Waal,
Triall will initially focus on business development within the EU & US markets, to gain traction and market dominance

We have a strong footprint in the EU and US markets, thanks to having managed a lot of clinical trials in the past across Europe and the US. This should provide us with the power to successfully scale our operations to the rest of the world

So in due time, we will expand to the APAC and African regions by setting up satellite offices in these areas

Regarding regulations we have advisors that support us with quality and compliance. They supported with the buildup and maintenance of our internal Quality Management System and also have been instrumental in the testing and validation of our software solutions (which have to comply with strict industry-specific requirements and EU/US privacy regulations)

From : @HoltBull7sRegarding the recent Triall article “Triall allocation for the Triall Community Fund (TCF) is 10% of the $TRL supply”. Can you tell us what exactly are the benefits of TCF for ecosystem Triall? What is the reason that 10% of the funds allocated are too large for one project only?

Raymond van der Waal,
Sure

So at Triall, we believe that building a sustainable, digital ecosystem for clinical trials is greatly dependent on having a thriving community

For this reason, 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

Please note that we plan to invest in many different projects!

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

From : @RuthlessKXCould you tell us more about what is eTMF ? What functions do they play? Does eTMF also support the latest development of vaccines related to COVID-19?

Raymond van der Waal,
Ok so the ‘eTMF’ is a product category within the world of clinical trial software

Let me explain:

Each clinical trial should collect their essential documents in what is called an electronic Trial Master File (eTMF), as is mandated by the US FDA and EMA. This includes essential documents such as the study protocol, statistical analysis plan, data sets, statistical analysis reports, etc.

The eTMF allows regulators to reconstruct how the clinical trial was performed and verify whether it was performed reliably and scientifically sound. Without high-quality study dossiers (including such eTMFs), a new medicine will not obtain regulatory approval and cannot enter the market. In such situations, the underlying clinical trials often must be reiterated, giving rise to huge additional costs

Verial eTMF assists clinical trial professionals in building their eTMF in a secure web-based application with an intuitive user experience. It helps them to build their eTMF faster and more reliably, thereby reducing the overall costs of clinical trial management and drug development. Uniquely, for all essential documents that are stored in Verial eTMF, a hash of the document is registered on the blockchain. This provides regulators with better insight into the authenticity and reliability of the research data and expedites the drug development and market authorisation process

TELEGRAM QUESTIONS

From : @xuanhanh372609How big is your addressable market and what are the future growth potentials?

Raymond van der Waal,
Good question! So a bit more info on our market:

The pharmaceutical industry spends around $200 billion on research & development each year. The majority of that budget is spent on clinical trials.

The market for clinical trial software is vastly growing (CAGR 13.8%) due to the growing digitalization, decentralization and globalization of the clinical trial industry. This growth is likely to be even higher due to the effects of the COVID-19 pandemic, which has forced many stakeholders to work remotely and digitize key trial procedures. We currently see a clear shift from local file systems, general-purpose solutions (e.g. SharePoint), or even paper files (hard-copies) to purpose-built software solutions for clinical trials. Unfortunately, the clinical trial software market is currently highly fragmented with many small vendors that offer isolated software solutions. This translates into an industry-wide need for interoperability

From : @robi621Partnership is very important for project success. So, what type of partnership has been established Dexta and what partnerships will there be in the future?

Raymond van der Waal,
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

From : @Dotishjack1133Can you please give us an overview of Tokennomics? And is there any plan for $TRL native tokens burn, mint, or issue new tokens in future?

Raymond van der Waal,
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.

The token economics of TRL are designed to drive demand (i.e. adoption & utility) and limit 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

From : @Lucky_Star_1704TRIALL develops many products, which is an advantage when it can meet almost the needs of users. However, does developing many products make management difficult? How do you ensure the quality of all TRIALL products?

Raymond van der Waal,
We apply an Agile development approach where we have a separate ‘product backlog’ for each application. We are all about customer-centric product development by continuously optimizing the product-market fit of our solutions as we frequently evaluate user satisfaction on a feature-specific level, enabling us to surface areas of improvement and accelerate adoption

From : @starcryptofiI think one of the problems with blockchain platforms to reach mass adoption is the number of regular users. What’s your plan to attract users to TRIALL?

Raymond van der Waal,
We plan to attract users and drive exponential growth in the following ways:

- Scalable business model & infrastructure: our SaaS business model, API-driven infrastructure and Agile development approach enable fast time-to-market, easy maintenance, and rapid scaling.

- Multi-sided platform dynamics: our ‘ecosystem approach’, where we connect, rather than compete with existing solutions (turning competitors into collaborators), will lead to synergistic network effects where we can tap into the business networks of entities that join our initiative.

- International value network: we have an international partner network and global advisory board that provide us with access to clients, expertise, and know-how all across the globe.

- Global business development: We will gradually expand our sales channels to other regions and geographies (APAC, Africa)

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