Clinical research is going digital.

Triall

5 min readAug 11, 2021

Introduce

But before going any further, I want to tell you first about Cryptoqurrency or Blockchain Technology. Cryptocurrency was originally known as a payment system that allows people to be able to make transactions quickly, without third parties, transparently, securely, and anonymously. Satoshi who is the creator of Bitcoin, makes Bitcoin beat the centralized financial system that is prone to manipulation and controlled by one party .Blockchain technology has been around since bitcoin was first developed. Satoshi uses blockchain technology to facilitate transactions on Bitcoin and secure it. But even so, blockchain technology is still not stable and scalable to be used in everyday life. Blockchain technology, especially that used in Bitcoin, is still not suitable for use in everyday payments, just imagine that users have to pay high fees for transactions and the process can take longer depending on the amount of the fee from the transaction, the higher the fee, the faster it will be.

About

Triall develops blockchain-enabled software solutions for clinical trials. Their name stems from the words (clinical) ‘trial’ and (blockchain) ‘l(edger)’. Triall is laying the groundwork for tomorrow’s digital playing field in clinical trials. They bring Web 3.0 to medical research by developing a digital ecosystem of blockchain-integrated software solutions. Their blockchain infrastructure makes medical data tamper-resistant. It also enables secure and efficient connections between the many isolated systems and parties involved in clinical research. Their mission is to accelerate the introduction of safe and affordable vaccines and therapeutics into society by streamlining clinical trials.

Triall will offer all of its software solutions under a tokenized software-as-a-service (SaaS) subscription model where customers pay for software and related services using our secondary token T-CRED (which can only be created by converting $TRL). We serve two target customer groups:

Clinical trial professionals: individuals working at pharma/biotech companies, specialized service providers (‘Contract Research Organizations’), and hospitals (‘Sites’) who use Triall solutions in their day-to-day clinical trial operations.
Clinical trial software providers: vendors who can leverage our APIs to integrate with our infrastructure, providing them with an easy entry into blockchain functionalities and allowing them to communicate with other solutions that are connected to our platform.

What makes Triall different from other projects?

Frontrunner: the world’s first organization to implement blockchain in a live and running clinical trial.
Working product: Verial eTMF is now being enrolled in 5 clinical trial projects, with more to follow.
Experienced management team: managed 100+ clinical trials, track record of 20+ ventures in Life Sciences and B2B software, and strong roots in clinical trial industry and blockchain standards groups (W3C, DIF, IEEE).
High-growth industry: estimated 13,8% CAGR, likely to be even higher due to the pandemic.
Thought leader: publication in Science and featured in Forbes, Inverse, and others.
Global network: international partner network and global advisory board of experts and KOLs.
Dutch roots: Triall’s operating company is located in the Netherlands, at the heart of a vibrant medical research industry and only 30 minutes away from the European Medicines Agency.

Triall competes with clinical trial software solution providers that offer all-encompassing platforms that comprise a range of different software solutions for streamlining clinical trial operations.

Triall solutions differentiate themselves by being

inclusive: we offer an intuitive user experience that moves away from the daunting user interfaces and complex instructions (and thereby high training requirements) of many competitor offerings. Moreover, we do not charge the high upfront costs (100k+) many of our competitors charge, thereby lowering the barrier of entry for SME stakeholders (the majority of the market) to onboard purpose-built clinical trial software in their operations;
modular: our API-driven infrastructure consists of a modular configuration of different underlying microservices, where each microservice performs a single specific function (e.g. blockchain registration) and is interchangeable and scalable on its own. This allows for fast implementation, easy maintenance, and rapid scaling. Our customers can choose a configuration of microservices according to their needs and budget;
interoperable: our API-driven infrastructure enables the secure and effective integration of previously isolated third-party clinical trial software solutions using a decentralized identity and access management infrastructure. We will offer open-source components and Blockchain-as-a-Service (BaaS) solutions that allow anyone to interface with our platform (‘turning competitors into collaborators’).

Token

Triall plans to issue a total of 175M $TRL tokens. Due to the vesting schedules, the circulating supply at the time of the token generation event (TGE) will only be 3.666.250 TRL (2,10% of the total supply), which translates into a Market Cap of $916.564

ITO structuring: Let’s dive into the key figures of our ITO. Please note that figures depicted between parentheses indicate percentage of the total TRL token supply.

The total TRL token supply at ITO will be 175 million.
A total of 91 million TRL (52%) will be distributed to the community, of which 31,5 million (18%) will be allocated to the Pre-sale, 42 million (24%) to the Treasury, and 17,5 million (10%) to the Triall Community Fund.
Any unsold tokens from the Pre-sale will be burned.
The Pre-sale price of 1 TRL will be $ 0,125 in the Private Pre-sale round (5%), $ 0,20 in the Retail Pre-sale round (2,5%), and $ 0,20* in the Late Bird Pre-sale round (7,5%).
The listing price of 1 TRL will be $ 0,25.
The hard cap will be $ 1.093.750 in the Private Pre-sale round, $ 875.000 in the Retail Pre-sale round, and $ 2.625.000** in the Late Bird Pre-sale round.
All token allocation pools are bound to a vesting schedule.
The market cap*** at the time of our token generation event (TGE) will be $ 916.563 (2,10%).

Token allocation

Conclusion

Triall house a unique combination of expertise (blockchain, enterprise IT, document processing, clinical trials, entrepreneurship, scientific research). Arguably, this makes us the perfect ‘translational agent’ for implementing blockchain and related technologies in the clinical trial industry and the Life Sciences at large. Education plays an important part in driving adoption and therefore we put a lot of effort into making the features, advantages, and benefits of blockchain and related technologies understandable to clinical trial professionals.