Recapitulation of Triall PROJECT AMA event held at AMA LOVERS CLUB.
Date: Thursday, 16th September, 2021
Time: 13:00 UTC
The Triall PROJECT team was represented by @Rxvdwaal who judiciously shared with us detailed knowledge and information about Triall PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on TRIALL?
ANS: Sure, my name is Raymond van der Waal and I’m co-founder and Head of Marketing at http://Triall.io. I’ve been involved with Triall since its foundation almost 4 years ago and I’m currently lead responsible for all of our marketing and partnering activities. My background is in biomedical sciences and business management and I have previously built experience as a researcher and consultant
Our team brings together a group of clinical operations experts, enterprise IT specialists, and blockchain developers. Combined, we managed more than a 100 clinical trials and co-founded 20+ ventures in Life Sciences and B2B software
This experience has left us with a deep understanding of clinical trials and a wide network in the EU and US
Through our CTO Niels klomp we also have ties with various blockchain standard groups such as the World Wide Web Consortium (W3C) and the Decentralized Identity Foundation (DIF)
Q2: Can you introduce TRIALL, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: Triall brings web 3.0 to medical research by developing a digital ecosystem of blockchain-integrated software solutions for clinical trials
For those that wonder what clinical trials are: clinical trials are research studies that evaluate the safety and efficacy of new vaccines and therapeutics before these enter the market
This is a process that typically takes 10 years and requires the close collaboration of many stakeholders, think pharma companies, hospitals, specialized service providers and of course the patients. I think the value of clinical trials is probably more evident than ever now due to the COVID-19 pandemic
We are the world's first organization that applies blockchain to:
(1) promote the integrity and auditability of clinical trial operations,
(2) enable secure connections between the many systems and parties involved in clinical research
To make that a little less abstract: our first product Verial eTMF, a blockchain-integrated document management solution, enables users to create verifiable proof of the integrity of their trial-related documents using blockchain
Next to that first application, we will introduce several follow-on applications that will all be integrated into a single digital platform. We're also doubling down on interoperability, by offering APIs that enable 3rd-party clinical trial software providers to integrate with our infrastructure, providing them with an easy entry into blockchain and allowing them to communicate with other solutions already connected to our platform. By doing that we gradually shape what we call a 'digital ecosystem for clinical trials' 🙂
Q3: Can you briefly talk about the Triall Ambassador program, who can join and what is the benefit of been a member?
ANS: Sure, The Triall ambassador program is open to anyone that is has an existing network and is motivated to spread awareness about http://Triall.io. Ambassadors can earn $TRL rewards by creating content. We have almost 500 people who signed up to the program and also discuss ideas in a separate Telegram group
Those that are interested can sign up at http://triall.io/ambassadors
Q4: Triall presale is going on presently which requires KYC to participate, why do you deem it necessary for participant to pass through KYC?
ANS: As a European company we follow national and international KYC/AML regulations. Those that do not want to KYC can buy $TRL on Uniswap from September 28 onwards. On that day we're listing $TRL (at a listing price of 0,25 USD) and have a dual-IDO planned at http://TrustPad.io and http://Prostarter.io
People that want to join our token pre-sale can register at http://triall.io. We closed our Private round 3 weeks ago and are currently in the midst of our Retail round where we offer TRL for 0,20 USD and also include a small bonus (150 TRL) to help cover eth gas fees. With only 330k left we expect to sell out soon
We're raising a total of roughly $3M and will have an initial market cap of around $930k
Also introducing a staking program together with http://ferrum.network to reward early adopters of $TRL, which is opening at our launch on Sep 28. Our first staking pool will have an APR of 250%. More info can be found at http://triall.io/staking
What do you earn by staking?
Oh, I thought TCRED as I know that Traill has a 2 Tokens ecosystem
T-CRED is our secondary token that is created by converting TRL using a smart contract and oracle
It has a stable value of $100 and is designed with our end-user in mind: the clinical trial professional.
We are also looking to implement staking rewards for clinical trial professionals, think product discounts and premium support for instance.
Q5: As we are experiencing the second wave of COVID-19, what is the Triall doing to contribute to the solution ?
ANS: Good question. Last week we announced a big strategic partnership with LTO Network. We will anchor research data on their blockchain platform to secure the integrity of clinical trials, starting with a COVID-19 vaccine clinical trial
This will be the world's first COVID-19 clinical trial to be anchored on the blockchain. The news was covered by over 200 media outlets, including Yahoo Finance: https://finance.yahoo.com/news/lto-network-sphereon-partner-triall-050000284.html
In the more general sense: our core mission is to secure and streamline clinical trials and thereby accelerate the introduction of new vaccines and therapeutics into society
This will hopefully increase our epidemic preparedness in the case of future outbreaks, as vaccines and therapeutics can get to market faster.
2nd Segment: LIVE Questions
Q1: Due to the volatility nature of cryptocurrency, some trial professionals may be skeptical in using your platform to conduct clinical trials, so what measures have you put in place to help protect end users of your platform from volatility nature of $TRL token? How do you intend to make the costs of using Triall solutions predictable?
ANS: Let me start with this one. So to answer this I need to explain a bit more about our two-token system:
Triall solutions are offered under a tokenized software-as-a-service (SaaS) subscription model where customers pay using T-CRED.
T-CRED is created by converting TRL at a fixed price of $100,- through a smart contract and oracle, where TRL is removed from the supply for each conversion. T-CRED is transferable, not burned by use, and can be converted back to TRL. This two-token system is designed to not expose end-users (clinical trial professionals) to the volatility of TRL. It makes the costs of using Triall solutions predictable and thereby promotes adoption.
Each time T-CRED is converted back to TRL, 2,5% of the tokens are permanently burned. This will stimulate a deflationary trend where the total TRL token supply will decrease over time.
Q2: I am currently writing a review of medical journals to detail the influence of applying blockchain technology to combat epidemic emergencies, and I think research was published by your team in the area. Can you provide a link to this article, what other publications do you have in this regards. I would acknowledge your efforts and can even take your team members as co-authors for publication of this paper in the renowned Medical science journal
ANS: Interesting! Last year, research by our team was published in the renowned scientific journal Science (https://science.sciencemag.org/content/368/6492/719). In this article we describe a blockchain-enabled system for data exchange during outbreaks.
Our team combines academic experts from several medical disciplines. The Science article truly shows the 'trans-disciplinary' nature of our team, since this research article integrates insights from infectious diseases, vaccine development, and blockchain technology.
Q3: °°°I was reading that Triall has the ability to create synergistic network effects where you can leverage the business networks of the entities that join your initiative. Could you explain in a little more detail how your platform achieves this "synergy effect"?
ANS: Good point. So we take an 'ecosystem approach' that's unique to our industry where we connect, rather than compete with existing software solutions (turning competitors into collaborators). Each software vendor that integrates with our platform through our APIs will also bring its own network of clients, so our ecosystem will grow in size as more entities join our initiative.
Q4: Hello sir, 💢$TRL is an ERC20 token.Erc20 chain has some high gas fees. So have you an idea to going for multi chain in future?
And can show us market details of $TRL token?
ANS: Relevant question! We do not rule out a bridge with another platform in the future ;)
Good to mention that we currently offer all Retail round pre-sale investors (who participate through triall.io) a bonus of 150 TRL (worth $30) to help cover eth gas fees.
Q5: Privacy and confidentiality of data are very important when it comes to clinical trails and health sector in general, so what measures are in place to help ensure the confidentiality, integrity, and security of Personal Identifiable Information and other sensitive data on your platform? Will clinical data be stored on-chain or How will you avoid privacy issues on your platform?
ANS: Good question. We implement physical and technical safeguards to ensure the confidentiality, integrity, and security of Personally Identifiable Information (PII) and other confidential data. We leverage industry-grade infrastructure and best practices to ensure the storage and transmission of PII is protected against unauthorized access. Moreover, PII is never stored on-chain, not even in encrypted form. We apply hashing and/or Decentralized Identifier (DID)-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 DIDs.
Q6: Why you have named your project Triall? Is there any specific reason or just for fun?
ANS: 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 ;)
Q7: How maintaining data on Blockchain is more useful than in the traditional way? Can you state those features that Triall will provide to its users?
ANS: Clinical trials are all about the establishment of conclusive evidence about the safety and efficacy of new vaccines and therapeutics. Blockchain represents an incredible tool for ensuring that this evidence is reliable, traceable, and verifiable.
Moreover, blockchain-enabled technologies such as decentralized identifiers (DIDs) offer amazing opportunities for improving the way we handle sensitive medical data, in clinical trials but also more generally. Our vision is that DIDs will shape a decentralized identity and access management layer that revolutionizes data discovery and exchange, optimizing privacy, security, and operational efficiency.
Follow Us On Our Various Social Media Communities For More Update;
For those that are unanswered, I can highly recommend checking our our Tg group: https://t.me/triallcommunity
Here you are:
- Telegram group: https://t.me/triallcommunity
- Telegram channel: https://t.me/triallofficial
- Twitter: https://twitter.com/triallofficial
- Medium: https://medium.com/triall-foundation
- Facebook: https://www.facebook.com/triallofficial
- LinkedIn: https://www.linkedin.com/company/triallofficial
- YouTube: https://www.youtube.com/channel/UCIP96iUV5Eu9bEP_FWjthhQ/videos
Let me conclude with our promo video: https://youtu.be/WIIyhFl5eeA
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