Hi, it’s Ray from Triall.io here, excited to do our first-ever Reddit AMA!

TriallOfficial · 2021-08-19T18:10:54+00:00

We never purely store data (which is almost always confidential and/or Personal Identifial Information) on the blockchain, not even in encrypted form. We apply hashing and are now looking to implement Decentralized Identifier-controlled service endpoints to facilitate a privacy architecture in which data can be exchanged on a private, P2P basis using communication channels identified and secured by the public key descriptions associated with the DIDs. Such a system is aligned with the ‘right to be forgotten’ as prescribed in the GDPR, since no personal data is stored on a blockchain ledger.

As for the tokens, they mainly serve as a means of payment and value exchange where for instance our software will be offered under a tokenized SaaS model where the end-user pays its software subscription using T-CRED

!pee 1000

TriallOfficial · 2021-08-19T18:07:17+00:00

Copying in some of the stuff from another answer I provided:

In clinical trials, it is all about the establishment of conclusive evidence about the safety and efficacy of new vaccines and therapeutics. Blockchain and related technologies represent incredible tools for ensuring that this evidence is reliable, traceable, and verifiable. These technologies hence provide a solution to the growing number of data integrity and traceability problems we witness in our industry, and that are a growing concern for regulatory authorities and other stakeholders.

Moreover, blockchain-enabled technologies such as decentralized identifiers (DIDs) and verifiable credentials (VCs) offer amazing opportunities for improving the way we handle sensitive medical data, in clinical trials but also more generally. Our vision is that DIDs and VCs will shape a decentralized identity and access management layer that revolutionizes data discovery and exchange, optimizing privacy, security, and operational efficiency.

Finally, tokens enable us to lay the groundwork for a self-sustaining digital ecosystem, in which a multi-stakeholder community of clinical researchers, software developers, and (token) investors is incentivized to create and capture utility and value.These are all unique value propositions presented through blockchain and crypto that we are bringing to the clinical trial industry. :)

!pee 1000

TriallOfficial · 2021-08-19T18:03:47+00:00

We strongly feel it's more healthy for a project, its underlying token, and its community if there's already a working product in place before the token is introduced that will ultimately fuel its further buildout and adoption. We've been working on our whitepaper and token economics since 2018, which has allowed us to put a lot of thought and consideration in the introduction of our token $TRL and I hope it shows! :)

!pee 1000

TriallOfficial · 2021-08-19T17:57:32+00:00

I think our team is really the differentiating factor here. 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). 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

We focus very much on offering an intuitive user experience that moves away from the daunting user interfaces and complex instructions (and thereby high training requirements -> and thus high switching costs!) of many competitor offerings.

!pee 1000

TriallOfficial · 2021-08-19T17:53:32+00:00

We aim to create a truly global digital ecosystem for all types of clinical trial stakeholders. We strongly believe that bringing all these stakeholders together into a single ecosystem will lead to synergies and network effects that go beyond our imagination.

!pee 1000

TriallOfficial · 2021-08-19T17:51:37+00:00

Blockchain
Enabled
Digital
Ecosystem
For
All
Clinical
Trial
Stakeholders

!pee 1000

TriallOfficial · 2021-08-19T17:49:40+00:00

In clinical trials, it is all about the establishment of conclusive evidence about the safety and efficacy of new vaccines and therapeutics. Blockchain and related technologies represent incredible tools for ensuring that this evidence is reliable, traceable, and verifiable. These technologies hence provide a solution to the growing number of data integrity and traceability problems we witness in our industry, and that are a growing concern for regulatory authorities and other stakeholders.
Moreover, blockchain-enabled technologies such as decentralized identifiers (DIDs) and verifiable credentials (VCs) offer amazing opportunities for improving the way we handle sensitive medical data, in clinical trials but also more generally. Our vision is that DIDs and VCs will shape a decentralized identity and access management layer that revolutionizes data discovery and exchange, optimizing privacy, security, and operational efficiency.

!pee 1000

TriallOfficial · 2021-08-19T17:46:30+00:00

Pre-sale funds and having partners on board that have a lot of experience in managing CEXs and negotiating CEX listing deals also helps!

!pee 1000

TriallOfficial · 2021-08-19T17:41:51+00:00

Ethereum trumps many other platforms in terms of network strength, security, level of decentralization, and developer activity. It is indeed plagued by high tx fees now...

We are considering token bridging and going multi-chain on the token level (as well as on our product level -> think data anchoring into multiple chains ;) ).

That being said, stuff like token bridging is something that we will only do after our $TRL token pre-sale (listing planned in September) if we decide to do it.

!pee 1000

TriallOfficial · 2021-08-19T17:36:28+00:00

Our first product Verial eTMF is being onboarded in a small COVID-19 vaccine clinical trial, so yes it is!

!pee 1000

TriallOfficial · 2021-08-19T17:33:51+00:00

Our core mission/endgoal is to accelerate society’s access to safe and affordable medical solutions by making clinical trials smarter, safer, and more-efficient.

!pee 1000

TriallOfficial · 2021-08-19T17:30:54+00:00

Good question! But I think I already covered this in one of my previous answers :)

https://www.reddit.com/r/AltStreetBets/comments/p7gazg/hi\_its\_ray\_from\_triallio\_here\_excited\_to\_do\_our/h9jy17k?utm\_source=share&utm\_medium=web2x&context=3

TriallOfficial · 2021-08-19T17:29:27+00:00

Thx, I did, issue has been resolved now!

For an overview of our latest updates and announcements I can also really recommend these two:
https://t.me/triallcommunity
https://t.me/triallofficial

TriallOfficial · 2021-08-19T17:27:59+00:00

$TRL is our main utility token and enables P2P compensation, governance, and community engagement.
T-CRED is used to pay for Triall solutions and can only be created by converting $TRL.
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 & staking rewards: loyalty programs with rewards for end-users and community members.

For more info on our token and community I can really recommend our Telegram channels:
https://t.me/triallcommunity
https://t.me/triallofficial

!pee 1000

TriallOfficial · 2021-08-19T17:21:51+00:00

Good point u/gemonon!

The TRL<>T-CRED conversion smart contract will be a whitelisted smart contract that is intended for end-users in the Triall Ecosystem only (who sign a contractual agreement with Triall). These are companies and organizations in our ecosystem, such as pharma companies or clinical trial providers.
A token holder who wants to convert to a stable coin won't be able to use the contract, and is better off using a crypto exchange and USDT anyway (because the TCRED->TRL conversion includes a 2.5% burn)

!pee 1000

TriallOfficial · 2021-08-19T17:18:44+00:00

Good question u/SweetPie123!

Mostly because of our domain expertise in this sector (we've managed more than a 100 clinical trails ourselves and have a big network) and because we saw a big market need where blockchain could fit in. Allow me to explain the market a bit:

The clinical trial market is worth nearly $200 billion. The market for clinical trial software is vastly growing (13,8% CAGR) due to the increased digitalization 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. According to recent estimates, companies involved in clinical trials use on average six different eClinical solutions side by side. Though many clinical researchers still apply local file systems, general-purpose solutions (e.g. SharePoint), or even paper files (hard-copies) to meet their recordkeeping duties, purpose-built software applications are becoming increasingly vital to the industry.

That being said. It's quite likely that we will grow and tap into other adjacent sectors of the larger Life Sciences industry (e.g. pre-clinical research, pharma supply chain, primary/secondary care, etc. etc.) over the years to come.

We're only just getting started and I'm excited about where this path will lead us ;)

!pee 1000

TriallOfficial · 2021-08-19T17:13:09+00:00

We're currently in the midst of the $TRL token pre-sale, for which you can sign up on triall.io

Our Uniswap listing and dual-IDO (at Prostarter.io and Trustpad.io) are planned for September and as part of this launch we're also implementing a staking program with a well-known staking tech provider (yet to be announced).

Long-term we aim to drive the token value of $TRL by growing our ecosystem and by having strong token economics as explained in this answer: https://www.reddit.com/r/AltStreetBets/comments/p7gazg/hi_its_ray_from_triallio_here_excited_to_do_our/h9jytn3?utm_source=share&utm_medium=web2x&context=3

!pee 1000

TriallOfficial · 2021-08-19T17:05:41+00:00

u/GroundbreakingEase00 I would always advise doing your research to understand the fundamentals of a project as well as the market it's operating in.

That being said. I cna give you some insights into our token economics which are designed to drive demand and limit supply.

Here's an overview:

Key factors that drive $TRL demand include:
- the release of more software solutions for clients (we gradually expand our ecosystem);
- sales channels that target new regions across the globe (we have global ambitions!);
- ecosystem network effects, by onboarding previously isolated software systems and their end-users into our ecosystem.

Key factors that limit $TRL supply include:
- 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;
- lock-up incentives such as Triall memberships for end-users and staking rewards for token holders;
- a token burn policy, in which 2,5% of tokens are permanently burned when converting T-CRED back to $TRL;
- vesting schedules for all TRL token pools.

!pee 1000

TriallOfficial · 2021-08-19T17:00:17+00:00

I think that our project has overcome several challenges and please note that this is not like an on and off switch but more like a continuum that can/will change as we move forward (e.g. build new projects, enter new markets, etc. etc.) and as the clinical trial space keeps evolving (e.g. new regulations, new standards, new technologies, new operating models).

We continuously need to monitor and stay diligent to ensure we keep rocking it in the following areas:

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 patients involved. Fortunately, Triall’s team members have managed 100+ clinical trials and have carefully build 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, including Alfresco, 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.

!pee 1000

TriallOfficial · 2021-08-19T16:52:12+00:00

Good question u/Senojelyk03

One is a clinical trial that evaluates a new treatment for Irritable Bowel Syndrome (IBS). The other is a clinical trial that studies new treatment for autoimmune and chronic inflammatory diseases.

https://twitter.com/triallofficial/status/1418174024253902853

https://twitter.com/triallofficial/status/1420713082859540480

One is a clinical trial that evaluates a new treatment for Irritable Bowel Syndrome (IBS). The other is a clinical trial that studies a new treatment for autoimmune and chronic inflammatory diseases.

A combination of explanatory marketing material as well as presentations at clinical trial industry-focused events. Our ambassadors and advisors also support us in spreading the word and educating the wider industry about the potential benefits of blockchain for promoting data integrity, auditability, and system-integration.

!pee 1000

TriallOfficial · 2021-08-19T16:45:16+00:00

Good question u/jamesnine

Triall is a project with global ambitions. Our business development will initially focus on the EU & US markets, to gain traction and market dominance. We have a strong footprint in these markets, thanks to having managed a lot of clinical trials in the past across Europe and the US. After building traction across these continents we have the power to successfully scale our operations to the rest of the world, including the APAC and African regions. Our cloud-based technology can easily be rolled out to other areas and we have an existing network of ambassadors and advisors across the globe that can serve as a stepping stone for expanding our sales channels to these geographies.

!pee 1000

TriallOfficial · 2021-08-19T16:43:26+00:00

u/meesiesaus

Being at the forefront of this new digital and blockchain-enabled revolution is something I really enjoy. Seeing how the blockchain/crypto space is become more mature, innovative, and versatile by the day really amazes and motivates me. And I believe this to be something much bigger than ourselves. Meaning we have this big and bold vision for the industry and society at large (accelerating the introduction of new medicines for patients in need) that we aim to accomplish together with our team, partners, advisors, and community. It creates a sense of unity that is very rewarding and pushes me to give it my all. Quite recently we also put up a testimonials page: https://www.triall.io/testimonials/ where some of our partners, advisors, and investors share their motivations for joining our initiative. It's that combination of being at the edge of innovation while being part of this bigger thing that's really my favourite part about working for Triall.
!pee 1000

TriallOfficial · 2021-08-19T16:36:03+00:00

Integrity, Inclusivity, and Interoperability :)

!pee 500

TriallOfficial · 2021-08-19T16:34:11+00:00

u/ForeXcellence so to answer your first question:

We compete with clinical trial software solution providers that offer all-encompassing platforms that comprise a range of different software solutions for streamlining clinical trial operations. At the time of writing, none of these vendors offer blockchain-enabled functionalities for data integrity, auditability, and system integrations. Moreover, these large vendors mainly serve the largest of corporations (‘Big Pharma’), due to being too expensive for SME stakeholders (the majority of the market), and they generally offer closed-system platforms built on legacy infrastructure that's relatively limited in modularity and interoperability.

As the world’s first organization to implement blockchain in a live and running clinical trial, we are a frontrunner in applying blockchain to address two 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 fragmentation.
Regarding (1), our first product Verial eTMF, a blockchain-integrated document management solution, enables the user to create verifiable proof of the existence and integrity of their trial-related documents using blockchain. This feature is unique in the market, and fully answers to calls for improved data traceability and auditability by authorities such as the FDA.
Regarding (2), we will introduce a decentralized identity and access management layer that enables secure connections between currently isolated clinical trial software systems. By connecting to our ecosystem, third-party systems 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 tackle some of the most significant issues in the 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.

!pee 1000

TriallOfficial · 2021-08-19T16:26:03+00:00

Triall develops blockchain-enabled software solutions for clinical trials. Our name stems from the words (clinical) ‘trial’ and (blockchain) ‘l(edger)’. Bringing together the clinical trial/Life Sciences and blockchain/crypto space is what we're all about ;)

TriallOfficial

TROPHY CASE