Triall x Satoshi Club AMA Recap from 15th of September

Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Triall and our guests was @rxvdwaal – representatives of Triall. The AMA took place on the 15th of September.

The total reward pool was 500$ and has been split into 3 parts.

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Website

Mary | Satoshi Club:
Hello Satoshi Club! We are happy to announce our AMA session with Triall! Welcome to Satoshi Club😀

D. | Satoshi Club:
Today our guest – @rxvdwaal !

Glad to have you in our club! 😊

Raymond vd Waal | will never DM you first:
Hi everyone, a pleasure to be here, looking forward to answering all of your questions 😄

Mary | Satoshi Club:
Hello, and you’re welcome 😀

D. | Satoshi Club:
Nice! we have plenty of them 😃

Raymond vd Waal | will never DM you first:
I figured 😉

D. | Satoshi Club:
But intro first! 😉

Mary | Satoshi Club:
So, let’s start our AMA 🚀

Raymond vd Waal | will never DM you first:
Let’s do it.

Mary | Satoshi Club:
Could you please introduce yourself and tell us more about Triall🚀🚀🚀

Raymond vd Waal | will never DM you first:
Sure, my name is Raymond van der Waal and I’m co-founder and Head of Marketing at 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.

At Triall we’re bringing web 3.0 to medical research by implementing blockchain and related technologies in 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 in patients 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.

Mary | Satoshi Club:
It’s not so often that medical projects choose blockchain industry 😀

Raymond vd Waal | will never DM you first:
I think the value of clinical trials is probably more evident than ever now due to the COVID-19 pandemic and as we all witnessed last year’s vaccine race

Our core mission is to secure and streamline clinical trials and thereby accelerate the introduction of new vaccines and therapeutics into society 🙂

That’s true, although there are definitely many different use cases.

Mary | Satoshi Club:
Can you tell more about them?

Raymond vd Waal | will never DM you first:
Well clinical trials are all about the establishment of conclusive evidence about the safety and efficacy of new medicines. Blockchain represents incredible tools for ensuring that this evidence is reliable, traceable, and verifiable. It therefore provides a solution to the growing number of data integrity and traceability problems we witness in our industry/

Adding to that: blockchain-enabled technologies such as decentralized identifiers (DIDs) (often mentioned in the context of the Web3.0 and Self-sovereign identity) 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.

Mary | Satoshi Club:
That’s true! Awesome vision 💪

Who are in Triall team? How big is it?

Raymond vd Waal | will never DM you first:
We’re with about 10 people now, bringing 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).

Mary | Satoshi Club:
Do you have office or work remotely?

Raymond vd Waal | will never DM you first:
In the current COVID-19 environment we combine both.

We have an office in the Netherlands, only 30 min away from the European MEdicines Agency.

But currently, I’m working from my home office in Amsterdam 😉

Mary | Satoshi Club:
Wow, nice choice👍

Raymond vd Waal | will never DM you first:
These days we mostly leverage the office for team meetings, brainstorming and the occasional social event 😉

Mary | Satoshi Club:
Hope soon we all will have more opportunities for work and travel 😀

Raymond vd Waal | will never DM you first:
I hope so too 🙏🏽

Mary | Satoshi Club:
Thank you for this great intro👍 we choose 6 questions from our users for the first part of our AMA 🚀 and i feel that we are ready to start with them! Ready?

Raymond vd Waal | will never DM you first:
Yes!

D. | Satoshi Club:
Let’s start! 💪

Q1 from Telegram user @meml97
Triall aims to provide new innovative solutions to medical companies, pharmacies and hospitals to secure and streamline the development of new vaccines and therapeutics during clinical trials processes. But a really big party involved in all this that is often forgotten, are patients and healthy volunteers, who are the ones that usually tend to have the hardest time when it comes to every process related to the healthcare field. So, I was wondering, is Triall willing to help patients and volunteers as well as it will help companies, hospitals, etc? How will you try to make their life easier when it comes to their healthcare and clinical trial processes? What kind of benefits will they directly get from Triall’s platform and from the implementation of Triall’s services on their surroundings?

Raymond vd Waal | will never DM you first:
Excellent question.

So patients and health volunteers are impact both indirectly and directly:

In terms of indirect impact: Triall.io supports clinical trial professionals (that is pharma companies, hospitals, and specialized service providers) in conducting their work more efficiently. Therefore new medicines can get to market faster and help patients in need. Everyone at some point in their life needs medication, so accelerating the development of new meds is something that affects us all.

As to the direct impact in the context of clinical trials: due to these efficiency gains on the hospital level, doctors and research nurses will have more time left to spend caring for the patient

Mary | Satoshi Club:
That’s 100% true

Raymond vd Waal | will never DM you first:
Moreover, we’ve also partnered with eHealth expert NeLL.eu and patient recruitment firm Link2trials.com with whom we will built patient-level applications that support with promoting the patient experience

Mary | Satoshi Club:
Which countries they support?

Raymond vd Waal | will never DM you first:
Both are mostly focused on the EU.

But I know that they have ties with the US and Asia as well.

As they each have their own global network.

And that’s also what we are all about: building global initiative with the purpose of making clinical trials smarter, safer, and more efficient 🙂

Mary | Satoshi Club:
Is it possible that at some point you will partner with some countries governments?

Raymond vd Waal | will never DM you first:
Public health institutions, certainly.

D. | Satoshi Club:
With the help of blockchain technology we hope this system will be improving more and more 😊👍

Raymond vd Waal | will never DM you first:
Especially if these sponsor clinical research.

Mary | Satoshi Club:
Which services you can provide for them?

Raymond vd Waal | will never DM you first:
We are building a digital ecosystem of blockchain-integrated software solutions that offer them tools to streamline their clinical trial operations

Mary | Satoshi Club:
Gotcha! Sure we will here this kind of news from Triall in the future 😀

Thank you for your answers! Ready to proceed?

Raymond vd Waal | will never DM you first:
The first product we developed and commercialized is a blockchain-integrated document management solution, called Verial eTMF. Next to that first application, we will introduce several follow-on applications that each focus on different functional areas (‘planning & oversight’, ‘partnering & study startup) that will all be integrated into a single digital platform. So ultimitately, we’re building a one-stop-software-shop for the clinical trial professional 🤓

Yes

Q2 from Telegram User @victorogb
Triall will operate a two token system built on the Ethereum blockchian to cater for the services on the Traill ecosystem. These tokens are; TRL and TCRED (Triall Application Credit). Can you kindly elaborate on these tokens, what necessitated the choice of a two token system, what are their individual functions and utilities within the ecosystem, how will they be distributed within the Triall ecosystem, and will these tokens offer similar monetary value to users within your ecosystem? Finally, as the Triall project grows, offering enhanced eClinical services, would you consider exploring other blockchains as a complement to your current choice of Ethereum?

Raymond vd Waal | will never DM you first:
Another good question.

Mary | Satoshi Club:
We will have questions about this😉

Raymond vd Waal | will never DM you first:
We’re introducing a two-token system to quickly build towards this ‘ecosystem vision’ and to enable fair and equitable sharing of benefits and access among all stakeholders involved

First and foremost this token system is meant as a means of payment for all of the software offered within our ecosystem: where clients convert their TRL to T-CRED and pay for their software subscription using this T-CRED

D. | Satoshi Club:
So both of these tokens will be released simultaneously on market? I know you having a token sale currently?

Mary | Satoshi Club:
Will it be easy to convert? As it’s Ethereum blockchain?

Raymond vd Waal | will never DM you first:
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. 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.

The conversion contract still needs to be developed, we’re currently in the midst of the $TRL pre-sale (with our launch and dual-IDO planned for September 28, those interested can join at triall.io).

Mary | Satoshi Club:
Logically 👍

Raymond vd Waal | will never DM you first:
Good to mention that $TRL also has other utilities outside of access to Triall solutions

It can for instance be used for p2p payments between stakeholders in a clinical trial consortium.

Mary | Satoshi Club:
Could you share more details about upcoming IDOs with our community?😀

Raymond vd Waal | will never DM you first:
It functions to engage and incentivize community members for providing value to the ecosystem: which can be in the form of development, bug hunting, sharing best pratices. And it allows us to set up a governance system and loyalty programs, think memberships and staking rewards

Sure!

D. | Satoshi Club:
This function could be very useful 👌

Raymond vd Waal | will never DM you first:
So we’re listing $TRL (at a listing price of 0,25 USD) on Uniswap and have a dual-IDO planned at TrustPad.io and Prostarter.io on September 28. Also working on a CEX listing.

People that want to join our token pre-sale can register at 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.

We’re raising a total of roughly 3M USD and will have an initial market cap of roughly $930k.

Mary | Satoshi Club:
Congratulations with successful Private round 🎉🎉🎉

D. | Satoshi Club:
Nice! and i think everyone is curious – why you choose Ethereum as your main chain? 😉

Raymond vd Waal | will never DM you first:
Thx! 😄

ETH still trumps many of the other platforms in terms of network strength, security, decentralization, and dev activity

D. | Satoshi Club:
💯 agree

Mary | Satoshi Club:
Yes, that’s true, but fees are Eth headache.

Raymond vd Waal | will never DM you first:
They for sure are.

But genuine decentralization and well-designed security make a far more valuable proposition than low tx fees facilitated by an exclusive and closed set of servers

Mary | Satoshi Club:
Will users need to pay fees when converting TRL to T-CRED?

Raymond vd Waal | will never DM you first:
That being said, I don’t rule out we will bridge in the future 😉

Mary | Satoshi Club:
You can always use L2 solution 😀

Raymond vd Waal | will never DM you first:
Yes, but please note that these are clients who are already interested in a 6 month+ software subscription.

Typically a clinical trial takes 1,5-2 years. So we’re talking long contracts.

Mary | Satoshi Club:
Thank you for your answers! Ready to go to the next question?😀

Raymond vd Waal | will never DM you first:
👍🏼

D. | Satoshi Club:
🚀🚀🚀

Q3 from Telegram user @JesusFre1tes
Clinical trials involve increasing amounts of data and electronic systems, leading to a lack of oversight and uncertainty about the integrity and authenticity of the data collected. This reduces efficiency and reliability in the development of new drugs. Triall, by using world-class blockchain technology, how have you solved these reliability and transparecity issues suffered by platforms or companies engaged in high-level clinical trials?

D. | Satoshi Club:
I think you are partially answered on this one😊

Raymond vd Waal | will never DM you first:
Our first product Verial eTMF, a blockchain-integrated document management solution, enables the user to create a verifiable proof of the existence and integrity of their trial-related documents using blockchain. This providers regulators, health authorities, and regulators with increased confidence about the reliability of clinical trial data

Extremely relevant considering the growing number of data integrity issues, long development timelines and many stakeholders involved

Yes, partially indeed 😉

Mary | Satoshi Club:
What is your biggest goal? Where do you see Triall let’s say in 10 years?

Raymond vd Waal | will never DM you first:
Good question.

In 10 years, I hope we have build the world’s first global and tokenized digital ecosystem for clinical trials that serves and connects everyone involved in clinical research. A digital platform that combines a range of integrated software solutions provided by Triall and by other world-class vendors

As part of this ecosystem we’ll have a thriving community of synergistic partners, token holders, investors, and advisors that united realize our core mission: accelerating society’s access to safe and affordable new medicines

Mary | Satoshi Club:
I think you can easily reach this😀

Raymond vd Waal | will never DM you first:
Yes, hoping to get their in 3-5 years already, if not sooner.

Mary | Satoshi Club:
Thank you for your answers! Ready to jump to the next question?🚀

Raymond vd Waal | will never DM you first:
Sure!

Q4 from Telegram user @antoni_azx
Your first product is Verial eTMF which according to the data provided on your website has an approximate total of 2500 participants, so can you tell us what the financial benefits are for each of these participants? Do participants have to accept certain terms and conditions? What regulatory policies does Triall have?

Raymond vd Waal | will never DM you first:
Excellent question

The 2500 participants refers to the amount of patients participating in the clinical trials that use the Verial eTMF

As Verial eTMF is a document management solution for clinical research professionals, the patients itself will not use the Verial eTMF but the research professionals will 🙂

Mary | Satoshi Club:
Oh, understand 😀

Raymond vd Waal | will never DM you first:
Without proper document management, 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 research professionals in building their eTMF faster and more reliably, thereby reducing the overall costs of clinical trial management

D. | Satoshi Club:
Btw you won’t have any problem with data storage? blockchain is a relatively new technology still, in the case of data storage you will be still relying on centralized storage?

Raymond vd Waal | will never DM you first:
It’s of crucial importance that our solutions meet industry-specific requirements, quality standards, and regulations. For this reason we work closely together with our quality & compliance advisors when designing, testing, and validating our software

Original data is stored off-chain, only proofs of data are stored on-chain.

Either through hasing or through decentralized identifiers (DIDs).

D. | Satoshi Club:
That’s should be secure enough.

Raymond vd Waal | will never DM you first:
Off-chain being a private cloud environment in our case 😉

Mary | Satoshi Club:
Thank you for your answers, Raymond! Ready to go to the next question?🔥

Raymond vd Waal | will never DM you first:
👌🏼

Q5 from Telegram User @Tony253210
I have understood that Triall will open a staking pool with 250% of APR, but this is going to be only for whitelisted users, so can you tell us what are the requirements to participate? What’s the minimum amount of tokens that an user can Stake?

Raymond vd Waal | will never DM you first:
Yes, together with ferrum.network we’re bringing staking to the Triall ecosystem

To participate in all TRL staking pools, you indeed need to be whitelisted (see triall.io/staking for more info). The staking pools are a reward for promoting Triall

It’s relatively easy to get whitelisted and the good news is that it’s already open!

Mary | Satoshi Club:
Are you partners with Ferrum Network?

Raymond vd Waal | will never DM you first:
Yes, they provide the technology

The min/max allowed TRL amounts will vary per staking pool. For our first staking pool with 250% APR, a maximum amount of 40,000 TRL can be staked

Mary | Satoshi Club:
Can you name us all your partners, it’s interesting to see their names😀

D. | Satoshi Club:
I think this is part of the next question 😉

Mary | Satoshi Club:
Ohhhhh, sorry)

Raymond vd Waal | will never DM you first:
Here’s an overview of some of our crypto partners.

Not included here is our strategic partnership with LTO network

Mary | Satoshi Club:
We can ask it if Raymond is agree😀

Raymond vd Waal | will never DM you first:
https://finance.yahoo.com/news/lto-network-sphereon-partner-triall-050000284.html

We will anchor research data on their blockchain platform to secure the integrity of clinical trials, starting with a COVID-19 clinical trial. This will be the world’s first clinical trial to be anchored on the blockchain! The news was covered by over 200 media outlets.

Mary | Satoshi Club:
🔥

Mary | Satoshi Club:
Thank you for your answers, Raymond! Ready to go to the 6th and last question from this part?

D. | Satoshi Club:
I smell game-changing collaboration 😁👍

Raymond vd Waal | will never DM you first:
Yess

Mary | Satoshi Club:
True 👍

Raymond vd Waal | will never DM you first:
You smelled that right 😜

D. | Satoshi Club:
🚀🚀🚀

Q6 from Telegram User @Pavel_Jarosh
In the list of Triall’s development partners, I see 2 directly impacted organizations such as Nyenrode Healthcare Research Institute and Nell National eHealth Lab. Have you been in talks with some other as such Institutes and Labs that should be among the most interested in Triall’s project including additional financing possibilities?

Raymond vd Waal | will never DM you first:
Absolutely.

So it’s good to mention that we already have a big existing network within the EU and the US due to having managed many clinical trials in the past. These include renowned research institutes, clinical research organizations, academic hospitals, etc.

Another very important partner for us is cr2o.nl, a clinical contract research organization that manages international clinical trials on a daily basis, and with whom we design, test, and validate our software solutions

D. | Satoshi Club:
Do you planning something with NFTs? we know that this technology using not only for ‘kitties and punks’ on internet 😉

Raymond vd Waal | will never DM you first:
Perhaps.

Doesn’t have our core focus, but won’t rule it out

D. | Satoshi Club:
👍 gotcha

Raymond vd Waal | will never DM you first:
Btw if I missed something in my answers

Feel free to ask in our community: https://t.me/triallcommunity

Mary | Satoshi Club:
Satoshiclubbers, join 🚀🚀🚀

Part 2 — live questions from the Telegram community

Q1 from Telegram user @hansoyeon
Has Trial completed AUDIT of smart contracts? Can you share with us?

Raymond vd Waal | will never DM you first:
Our TGE smart contracts have successfully been audited by renowned auditing firm Zokyo.io. Here’s a link to the report: bit.ly/3qYM6jT

Q2 from Telegram user @yasindkz
I read that in your $TRL Token distribution, you have allocated 10% to the Triall Community Fund for your Community to be more involved in the development of the Triall ecosystem. Could you please explain how this fund will work and what activities it will be used for?

Raymond vd Waal | will never DM you first:
That’s correct! To further engage the community in the development of the Triall ecosystem, 10% of the total $TRL token supply is reserved for the Triall Community Fund (TCF), an investment vehicle established to fund community-grown projects and initiatives.

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.

Projects can be proposed by the community and are also chosen by the community through a step-wise voting system.

Q3 from Telegram user @DF3295
Is the ambassador program still active? any specific region in which you are interested? this is the opportunity to tell us!

Raymond vd Waal | will never DM you first:
It certainly is! The ambassador program is open to anyone that has an existing network and is motivated to spread awareness about Triall. Those that are interested can sign up at triall.io/ambassadors.

Q4 from Telegram user @emrebaba25
Your project name seems to be very interesting. Does it have any story behind it? Please can you share us with the inspiration for approaching to this name?

Raymond vd Waal | will never DM you first:
This is also a fun one 😄 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.

Q5 from Telegram user @alice_wonderland12
When it comes to health, we always have to look for information from experts in the field (physicians, scientists, nurses) since it is our life what is being discussed. Unlike this, in crypto anyone can do anything they like. How has Triall brought blockchain to the rigorous world of medical care, how is the software secure while le, solving the actual industry pain points?

Raymond vd Waal | will never DM you first:
Let me answer the first part of this question.

Quickly building trust, reputation, and track-record is of key importance for any new company entering the clinical trial industry considering the sometimes billion-dollar costs of product development and the safety of patients involved. Fortunately, we have managed 100+ clinical trials and have carefully built their industry network over the past 20 years.

Another point: compliance and inspection-readiness are key pillars of sound and reliable clinical trial operations. While we implement radically innovative technologies, we never compromise on quality.

Lastly, we build on proven and certified technology. 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 of clinical trial software solutions.”

Q6 from Telegram user @TTrillion2000
Has the Pre-sale of $TRL tokens started? If Yes, How can I as an investor, participate in the Pre-sale round of $TRL tokens? Can investors buy $TRL token from any part of the World? And Will investors be able to buy $TRL token using BTC or ETH?

Raymond vd Waal | will never DM you first:
Yes, the pre-sale is still live. Although we’ll probably sell out soon. We have 13 days left until our listing on September 28. Those interested can register their interest at triall.io to receive an invitation to our token sale platform where you can KYC and contribute. Means of payment will be USDT.

Good news: we’ve added a 150 TRL bonus to help cover eth gas fees for our pre-sale investors 😉

Q7 from Telegram user @Brokly4
What is the utility of token? What are the planning to increase the value of token gradually ? Not by pump and dump? As I see the roadmap is preety long, what are the planning of team for token golfers apart from listing to add the value of token?

Raymond vd Waal | will never DM you first:
We’ve spent a lot of time on our token economics (first version of our whitepaper was published in early 2019) and we’ve designed the token economics of TRL to drive demand and limit supply.

Factors that will drive TRL demand:
(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 3rd-party software systems and their end-users into our ecosystem.

Factors that limit TRL supply:
(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 using T-CRED;
(2) lock-up incentives such as Triall memberships and staking 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

Q8 from Telegram user @surendra040
You have presale going on for more days. What if the token remains unsold will you do burning of the tokens or anything?

Raymond vd Waal | will never DM you first:
Good question! almost forgot to mention that: in case we won’t sell out any unsold tokens from the pre-sale will be burned!

Q9 from Telegram user @Giniwhite
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?

Raymond vd Waal | will never DM you first:
Excellent question. Triall solutions are designed to streamline the management and conduct of clinical trials, producing efficiency gains in 3 of the 6 key clinical trial cost drivers (which together represent 38% of the total trial budget), including site monitoring, project management, and administration.

Our applications reduce time and effort spent on many manual time-consuming clinical trial tasks and activities by offering tools for document management, oversight, reporting, and planning.

Furthermore, our blockchain-integrated back-end offers unprecedented possibilities for safeguarding data auditability, security, and integration, thereby promoting data coherence across research sites and data integrity throughout the trial’s lifecycle. These back-end functionalities will greatly lower the amount of data quality issues found during inspections and therefore reduces the chance of trial delays and costly reiterations

Part 3 – Quiz Results

In the final part, we tested your knowledge in terms of Triall. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 300$.
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