On April 19th 2021, our community had a chance to welcome Rymoond Van Der Waal – Co-Founder and CMO of Triall to join in an AMA to give fruitful information about the key features and roadmap of Triall - is delivering blockchain-enabled solutions for data integrity, auditability, and operational efficiency in clinical trials
This AMA was held by CryptoFamily Group – the top crypto community in Vietnam, where investors and traders can obtain the lastest news and signals from bot/ admins, as well as discuss and share investment experiences in the crypto space.
At this AMA, the Rymoond Van Der Waal directly greeted the community and provided detailed information on Triall as well as some key products and future plans.
Time: 09:00 PM (UTC + 7) on Friday, May 21th, 2021
Venue: https://t.me/CryptoFamilyVN
Airdrop 200 USDT for the best questions in the AMA.
Below are some main points of this AMA:
Question for Part 1- Project overview
Question 1: Firstly, can you give me brief introdution about your managerment team and Triall. What are the occasions that you have the idea to build this platform?
Rymoond Van Der Waal: So very briefly about myself: my name is Raymond van der Waal and I’m co-founder and Head of Marketing at Triall. My background is in biomedical sciences and business management and I have previously built experience as a researcher, entrepreneur, and consultant
Triall is bringing web 3.0 to medical research. We develop blockchain-integrated software solutions that promote the reliability and efficiency of clinical trials.
Clinical trials are research studies that evaluate the safety and efficacy of new medicines before these enter the market. This is a lengthy process that typically takes 10 years and a huge market (the pharma industry spends almost $200B on clinical trials each year).
By using targeted blockchain integrations, our solutions optimize data integrity, auditability, and operational efficiency in clinical trials
Question 2: Secondly, Please tell me what are the core vallues that Triall brings to the community?
Rymoond Van Der Waal: So with Triall we bring together a group of clinical operations experts, enterprise IT specialists, and blockchain developers. We all share a vision of advancing the clinical trial industry using blockchain and have all worked together over the past 5-15 years in business and academia
Our core mission is to accelerate the introduction of safe and affordable vaccines and therapeutics into society by streamlining clinical trials
We strongly believe that we cannot accomplish this mission alone and therefore see a big role for both our partners and community. For this reason, we're heavily investing in building a strong community of synergetic partners, advisors, investors, and stakeholders that bridges the healthcare and crypto domains
In addition, we aim to connect, rather than compete with existing clinical trial software solutions, ultimately turning competitors into collaborators. This represents a radical, yet much-called for ‘ecosystem approach’ in the clinical trial industry, given the severely fragmented landscape of stakeholders and software solutions
We believe that bringing all these stakeholders together in one single ecosystem will lead to synergies and network effects that go beyond our imagination
Question 3: Could you tell us about the short-term and long-term goals of Triall in the future?
Rymoond Van Der Waal: In terms of short term goals 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 clinical trial software solutions. In parallel to these core applications, we offer APIs that enable 3rd-party software providers to synergize with our infrastructure, by integrating with our blockchain features and Triall solutions
So over the medium to long-term both developing our own software solutions and connecting with third-party solutions will gradually shape the world's first blockchain-enabled digital ecosystem for clinical trials. This digital ecosystem will introduce the advantages of an all-encompassing software suite to all types of clinical trial stakeholders: pharma companies, service providers, hospitals, etc.
Questions for Part 2 - Pre-collected questions from Twitter:
Question 1: What are the pros and cons of a Web 3.0 clinical trial compared to an actual clinical trial? What special technologies does Triall have to maximize the advantages of medical research on your platform? @Rebecca777711
Rymoond Van Der Waal: In clinical trials, it's all about the establishment of conclusive evidence about the safety and efficacy of new medicines. Blockchain and related technologies represent incredible tools for ensuring that this evidence is reliable, traceable, and verifiable. These technologies therefore provide a solution to the growing number of data integrity issues we witness in our industry.
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 opportunities presented through blockchain and crypto
Question 2: Could you please tell more about a few strategic investors as well as major partnerships of Triall? What value do they contribute to your project? Are you seeking for more partners in both crypto and non-crypto space in the near future? @Erik2572
Rymoond 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 (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 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 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
Question 3: Can you explain more clearly the solutions to achieve Double-Digit Growth as you describe on your website? In your projects, what are the strategic projects that you want to develop? @Jessica5555777
Rymoond Van Der Waal: Excellent question! So we expect to generate exponential growth due to the following factors:
- 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.
- Customer-centric product development: we aim to continuously optimize the product-market fit of our solutions by frequently evaluating user satisfaction on a feature-specific level, enabling us to identify areas of improvement and accelerate adoption.
- Global business development: We will gradually expand our sales channels to other regions and geographies (APAC, Africa).
- Fast growing clinical trial software market: our market is growing at an estimated 13.8% CAGR, which is likely to be even higher due to the effects of the pandemic
Question 4: As far as I can see, NFT and BSC are the next trend of new projects. As I know there are a lot of very good development projects on this platform, what do you think about this development? @DavidGa6969
Rymoond Van Der Waal: We are closely following all industry developments. Even though $TRL will be an ERC-20 token, I won't rule out that you might be able to find $TRL on BSC as well at some point in time :)
Question 5: What do you mean by “streamlining modern clinical trial operations” at Triall’s mission? How do You plan to accelerate the introduction of safe and affordable vaccines and therapeutics? @Lidiamga
Rymoond Van Der Waal: The clinical trial process typically take 10 years or even longer, and has become increasingly complex, fragmented, and data-heavy over the past decade.
As a result, many clinical trial stakeholders (pharma companies, service providers, hospitals) 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 and 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
At Triall we target these issues using blockchain-enabled software solutions. We leverage blockchain and related technologies to make clinical trials smarter, safer, and more-efficient. By doing that we can effectively shorten the time to market of new vacciens and therapeutics
PART 3: BEST LIVE QUESTIONS CRYPTOFAMILY GROUP
Question 1: Is Triall a global project? Is there a plan to cover Korean, European and African communities? will you launch multiple language lines for non-native English speakers? AbdulIvory
Rymoond 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.
Our cloud-based technology can easily be rolled out to other areas and, as discussed, 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
Question 2: Tokens from all projects have main utility & practical goals! So can you tell us what the main role of TRL is in your ecosystem? Explain the utility & use cases in the real world? @Densoia
Rymoond Van Der Waal: So underpinning our '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. 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, where clients pay for their software using 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
Question 3: Community support is one of the biggest aspects of a project’s success. Most projects have programs that interact with their users. Does you have any special plans to attract and expand the community and improve the user experience? @MichaelePotts
Rymoond Van Der Waal: We believe that building a sustainable ecosystem for clinical trials is greatly dependent on having a thriving community.
Therefore, we have established the 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 community-sourced projects and initiatives. Examples of such projects include a TRL (mobile) wallet, applications, token integration with other networks, marketing campaigns, websites promoting Triall, bounty programs, etc.
Question 4: Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team? @stavan5
Rymoond 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), which translates into a Market Cap of $ 916.564,-
The token economics of $TRL are designed to drive demand and limit supply.
Key factors that drive $TRL demand include:
(1) the release of more software solutions for clients;
(2) sales channels 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
Question 5: Can you share your fundraising situation and how your private and public offering tokens are distributed? And what are the plans for the next IEO? What should we prepare if we want to participate? @canhve
Rymoond Van Der Waal: So we're very close to finalizing the private pre-sale round, which is meant exclusively for investors that can provide a substantial contribution to the growth of our ecosystem (network, knowledge, expertise). After the private round we will have a retail round in which we will also use 2-3 launch pads to really make Triall known to the world. As soon as finalized the pre-sale we will have our TGE and list on Uniswap.
I welcome everyone to register on our website triall if they're interested in joining the retail round!
CF: Really appreciate all of your answers in Crypto Family Trading Group today, we all hope Triall will expand its ecoystem and gain mass adoption in the future!
For all of the questions that have not been answered yet, guys feel free to search for more information or ask directly to them on the links provided below:
Website: https://www.triall.io/
Twitter: https://twitter.com/triallofficial
Telegram: https://t.me/triallcommunity
