As animated in this explainer video, underpinning the Triall ecosystem 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 is used to pay for Triall solutions and can only be created by converting $TRL.
Let us briefly sum up the utility of our two-token system:
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,-
More info on our token allocation can be found here.
The token economics of $TRL are designed to drive demand and limit supply.
Key factors that drive $TRL demand include:
Key factors that limit $TRL supply include:
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 limits continuity risks and promotes adoption.
T-CRED can only be converted back to TRL at a reduced rate, where 2,5% of tokens is permanently burned. This will stimulate a deflationary trend where the total TRL token supply will decrease over time.
All token allocation follow a vesting schedule. The vesting schedule for the corresponding pre-sale round will be displayed on our token sale platform or the corresponding launch pad.
Yes, there is. Prior to participating in our pre-sale, investors are required to go through a KYC/AML verification procedure.
$TRL utility tokens are not offered to citizens or residents of the United States of America, Puerto Rico, the U.S. Virgin Islands or any other possession of the United States, the People’s Republic of China, Cuba, Iran, North Korea, Syria, and any other country, state, or territory where it is prohibited to purchase, hold, or own cryptocurrency, virtual money, security tokens or utility tokens as well as a country, state, or territory where offering of utlity tokens is considered offering of securities under applicable law.
For our pre-sale, we accept payments in USDT.
For the Retail pre-sale round, a minimum ticket size of $500 and a maximum ticket size of $3000 shall apply.
Any unsold tokens will be burned.
$TRL will be listed on decentralized crypto exchange Uniswap. In parallel, the Triall team is also pursuing listing $TRL on a centralized crypto exchange.
We regularly post on all of our social media channels:
We truly believe that to build and grow a sustainable ecosystem, community engagement and bottom-up initiatives are key.
The Triall Foundation will therefore engage stakeholders in the decision-making process and governance of the ecosystem, by putting topics up for voting to the Triall community. Topics that may be put up for voting are major alterations to the ecosystem, preferred incubator programs, token (lock-up) incentives, community programs, and the structure, compensation, and annual evaluation of the relationships with the foundation’s main partners.
Triall will also foster community engagement through the Triall Community Fund (TCF) and the Triall Ambassador Program, explained below.
To further engage the community in the development of the Triall ecosystem, 5% of the total $TRL token supply is reserved for the Triall Community Fund (TCF). The TCF is established to help the Triall ecosystem grow globally through community-sponsored projects. 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. After the initial pool of 5% of $TRL tokens has been depleted, part of the sustainable operating income from Triall may be reinvested into the TCF.
Regardless of crypto market conditions, the demand for new or improved vaccines and therapeutics will be there, and so will be the demand for clinical trial software solutions. Considering that medical research / clinical trials are digitalizing at a very rapid pace, this demand is only expected to increase.
Triall is laying the groundwork for tomorrow’s digital playing field in clinical trials. We bring Web 3.0 to medical research by developing a digital ecosystem of blockchain-integrated software solutions. Our 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. Our 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:
Our partners and shareholders equip us with an extensive international network of potential clients and close ties to stakeholders and KOLs in the field. This network provides us with credibility and a steppingstone for the initial sales & marketing of our software solutions. Moreover, we have access to a global pharma intelligence database giving us insights into planned and ongoing clinical trials across the globe, thereby enabling targeted business development. Lastly, we strongly believe in the power of community. Therefore, we’re building a strong community of synergetic partners, advisors, investors, and stakeholders that bridges the healthcare and crypto domains. We strongly believe that bringing all these stakeholders together in one single ecosystem will lead to synergies and network effects that go beyond our imagination.
Scalable business model & infrastructure: our Software-as-a-Service 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.
Customer-centric product development: we continuously optimize the product-market fit of our solutions by frequently evaluating user satisfaction on a feature-specific level, enabling us to surface areas of improvement and accelerate adoption.
Global business development: We will gradually expand our sales channels to other regions and geographies (US, APAC, Africa).
Double-digit growth market: the market for clinical trial software (‘eClinical solutions’) is growing at an estimated 13,8% CAGR, which is likely to be even higher due to the effects of the pandemic.
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 (with whom we have co-developed our first application Verial eTMF and blockchain microservices), and our clinical operations partner CR2O (a clinical contract research organization that manages international clinical trials on a daily basis, and with whom we can rapidly pilot test our sofware solutions). Moreover, our partnership with leading blockchain development agency Applicature has been key to the design, preparation, and execution of our token sale. As part of our pre-sale, we’re currently onboarding many more strategic partners in the healthcare and blockchain domains. Our core focus is the sustainable growth of our ecosystem and onboarding new partners is key to this objective.
Triall is a venture-backed project. We are supported by blockchain-focused Venture Capital firm Dizer Capital, which joined our initiative in January 2020. Dizer has been in the blockchain space since 2013 and its founder Yassin Mobarak perfectly complements our team with his deep knowledge of decentralized systems and tokenized ecosystems. Moreover, our co-founders have all invested money and time in building out our project over the past 4 years.
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.
The importance of the clinical trial industry for the introduction of new vaccines and therapeutics is now more evident than ever. The pandemic has also further accelerated our industry’s digitalization as many industry professionals are forced to work remotely. Thus, our software solutions may have become even more relevant, and we’re happy to help customers navigate this new digital playing field. As a business, the lockdowns and restrictions have not hampered our team’s productivity too much (apart from missing the social aspects of meeting face-to-face). To illustrate, we have been able to continue our product development as usual, as most of our product and development team’s touchpoints were already digital. Moreover, when it comes to sales, discovery calls, and product demos can easily be done through video communication tools and, essentially, the entire sales cycle can be digitalized.
Triall’s head office is incorporated in the Netherlands, a country that is home to the European Medicines Agency (EMA) and to a vibrant, dense cluster of nearly 1800 medical research companies and organizations, all within a 120-mile radius.
Triall develops blockchain-enabled software solutions for clinical trials. Our name stems from the words (clinical) ‘trial’ and (blockchain) ‘l(edger)’.
In designing the Triall ecosystem, we believe in a healthy balance of centralized and decentralized elements. In our ‘ecosystem vision’, we aim to grow beyond the traditional two-way interaction approach, building towards a multi-sided platform for clinical trial stakeholders. This platform will move away from data siloes and fragmented clinical trial operations, towards a digital culture of inclusion and productive collaboration, allowing different systems to share data. On the technology side we are as blockchain agnostic as we can by providing specifications and having blockchain abstractions. Lastly, from the perspective of governance, the community will play a vital role in the direction of Triall. As a result, we expect our governance model to gradually become more decentralized over time.
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. 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). Moreover, they generally offer closed-system platforms built on legacy infrastructure and relatively limited in modularity and interoperability.
Triall solutions differentiate themselves by being: (1) 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; (2) 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; (3) 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’).
Currently, the market for clinical trial software (‘eClinical solutions’) is highly fragmented with many small vendors at the bottom, who offer function-specific and often siloed solutions, and a handful of large vendors at the top, who offer all-encompassing software suites that offer many solutions within a single platform. At the time of writing, none of these vendors offer blockchain functionalities for data integrity, auditability, and system integration. Moreover, the clinical trial softwares suites are typically closed-system platforms only affordable to the largest (say top 20) of pharma companies and limited in terms of modularity and interoperability. As a result, the majority of the clinical trial industry is hampered by suboptimal software infrastructures and experiences a lack of oversight over their clinical trial operations. Our blockchain infrastructure tackles these issues. Existing clinical trial software providers can connect to us, and thereby interact with other solutions. Also, we offer proof of data integrity and authenticity so that the reliability of clinical trials is optimized. In other words, we’re positioned as a gateway for safe and efficient cincial trial operations, offering exisitng systems and clinical trial professionals an easy entry into blockchain and its unique benefits. Ultimately, this builds towards a true digital ecosystem of clinical trial software systems and clinical trial professionals: the Triall ecosystem.
Clinical trials are research studies that are necessary to evaluate the safety and efficacy of new vaccines and medicines before these can enter the market. Clinical trials are strictly regulated to protect the health and well-being of participants and the integrity of the research process. They are typically divided into 3 consecutive stages, each involving more research sites, participants, and data.
Ultimately, these trials aim to establish evidence of the safety, efficacy, and cost-effectiveness of the novel medicinal product in comparison to existing products. The evidence gathered during clinical trials is formally reviewed by regulatory authorities such as the US Food and Drug Administration (FDA) or the European Medicines Agency (EMA), who can authorize the product for market introduction. To this end, a ‘registration dossier’ is submitted that should contain all gathered data on quality, safety, and efficacy of the candidate medicinal product for its intended use.
The clinical trial process typically takes 10 years and has become increasingly complex, data-heavy, and fragemented over the past decade. As a result, the majority of clinical trial stakeholders experience a lack of oversight over their clinical trial operations. This leads to significant delays, reiterations, and an enormous amount of unnecessary costs. Moreover, the industry is hampered by a growing number of data integrity issues as well as numerous cases of error and misconduct over the past years. All of these issues delay the patient’s access to new medicine and drive up their future price.
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.
The pharmaceutical industry spends around $200 billion on research & development of new vaccines and therapeutics each year. The majority of that budget is spent on clinical trials. 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. Currently, the markets for purpose-built clinical trial software solutions is highly fragmented with many small vendors at the bottom, who offer function-specific and often siloed solutions, and a handful of large vendors at the top, who offer all-encompassing software platforms that comprise a range of different solutions for streamlining clinical trial operations.
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 steppingstone for expanding our sales channels to these geographies.
Working commercial product: Developed and commercialized Verial eTMF, a blockchain-integrated clinical trial document management solution.
World’s first implementation of blockchain in clinical trials: Demonstrated the world’s first implementation of blockchain in a live and running clinical trial through the use of Verial eTMF.
Seal of Excellence: Received Seal of Excellence from the European Commission for Verial eTMF product concept.
Development grant: Awarded Factom community grant for Verial eTMF development and Decentralized Identifier (DID) integration.
Triall whitepaper: Released the Triall Whitepaper, which provides the blueprint for our plans and vision.
International value network: Built an international partner network and global advisory board consisting of KOLs and industry experts.
Document management is a common denominator throughout clinical research. Regulations require researchers to build a so-called electronic Trial Master File (eTMF): the compulsory collection of documents that allows regulators and auditors to reconstruct and inspect clinical trial operations, and their compliance with international regulations and quality guidelines. Depending on the phase and size of the clinical trial, the eTMF can amount up to thousands of documents.
Without a high-quality eTMF, 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 is an easy-to-use document management solution that assists clinical research professionals in building their eTMF. It helps them to build their eTMF faster and more reliably, thereby reducing the overall costs of clinical trial management. Uniquely, Verial eTMF allows users to create verifiable proofs of the integrity and existance of their documents using blockchain timestamping. This provides regulators with improvement insight into the authenticity and reliability of the research data and expedites the clinical trial and market authorisation process.
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.
We have numerous innovations that we plan to develop over the coming period. 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 clinical trial software solutions. In parallel to these core applications, we offer APIs that enable third-party software providers to synergize with our infrastructure, by integrating with our blockchain features and Triall solutions. By both developing our own software solutions and connecting with third-party solutions we gradually shape the world’s first blockchain-enabled digital ecosystem for clinical trials.
Triall envisions the world’s first blockchain-enabled digital ecosystem for clinical trials that serves and connects everyone involved in clinical research. This ecosystem will comprise a selection of modular, complimentary, and integrated software solutions designed for clinical trials. It will introduce the the advantages of an all-encompassing software suite to clinical trial stakeholders around the world, while continuing to tailor to diverse user types, needs, and need-nots. Underpinning the ecosystem is a token system that facilitates fair and equitable sharing of benefits and access to all stakeholders by enabling P2P compensation, self-governance, community engagement, and long-term sustainability. Our strategy and approach are focused on becoming a major infrastructure provider for the emerging digital ecosystem for clinical trials.
We 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.
Triall applications can be regarded as ‘blockchain agnostic’ – our applications can be integrated with any blockchain of choice or combinations of multiple blockchains. By default, our current APIs are integrated with the Factom Protocol, but we also have integrations ready for Ethereum, HyperLedger, LTO Network, and various other blockchains. On request of clients or community members, other blockchain platforms may be utilized as well. Moreover, we leverage emerging open blockchain standards such as Decentralized Identifiers to design an interoperable platform that can integrate with different applications and systems.
In the clinical trial industry you deal with a lot of different stakeholders and regulations. Security is a primary concern of any software solution in this space and having immutable data in the mix complicates that even more. Triall will be leveraging Decentralized Identifiers for idenitity purposes, where data is stored off-chain (within a private cloud environment), but the proofs of that data is stored on-chain. The off-chain data is encrypted, in some cases even on a peer-to-peer basis, so that nobody can access the data in case of a breach. Whenever we use smart contract technology we always ensure that these contracts are audited by an external third-party. Lastly, we comply with relevant regulations (ISO, HIPAA, GDPR, eIDAS, ETSI) to ensure our operational practices are in order.
Triall implements 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 stores on blockchain, not even in encrypted form. We apply hashing and/or 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 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.
We aim to introduce a bug bounty program where we will be promoting responsible disclosure and are categorizing bugs and attack vectors by severity and impact. The bug hunters can earn rewards whenever he or she has submitted the bug responsibly, allowing us the address the issue before public disclosure.
The story of Triall started 4 years ago and is rooted in clinical research: our team had been managing clinical trials for many years and identified several persistant issues that make clinical research overly complex, lengthy, and resource-inefficient. After researching blockchain technology out of academic interest, our team realized that the unique properties of blockchain could be used to tackle many of the issues felt by the clinical trial industry. Fast-forward to today, we have built a fully operational business with a commercial product and a surrounding network of partners and advisors that have been invaluable to the shaping of our vision and the materialization of our roadmap.
Triall brings together a group of clinical operations experts, enterprise IT specialists, and blockchain developers. We share a vision of making clinical trials more reliable and efficient using blockchain and 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). 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.
Our team combines academic experts from several medical disciplines. These include globally recognized thought leaders that have published extensively on topics such as immunology, infectious diseases, vaccinology, microbiology, eHealth technologies, drug and vaccine development. Just recently, research by our team was published in the renowned scientific journal Science. This publication exemplifies the ‘cross-disciplinary’ nature of our team, since it integrates insights from infectious diseases, vaccine development, and blockchain technology.