Triall, Triall is laying the groundwork for tomorrow’s digital playing field in clinical trials.
In this age of globalization, time is of the essence for everyone. At this time that digital currency has been introduced to reduce transaction time. The cryptocurrency was originally known as a payment system that allows people to be able to make transactions very fast, without third parties, in a crystalline, secure, and faceless manner. With the accrual and development of the Crypto or blockchain ecosystem, several alternative investment opportunities have flourished, and have proven to be more efficient and profitable investment tools than traditional financial returns.
With the growth and development of the Crypto or blockchain ecosystem, a number of alternative investment options have emerged, and have proven to be more efficient and profitable investment tools than traditional financial returns. Innovative projects are consistently emerging in the crypto industry with high return investments and continuous trends, Cryptocurrency is potentially the largest digital asset for investment. because it is user-friendly, secure, and allows to cut down steep transaction costs. It is the maximum thing in the financial market that has proven to be an interruption lifter in financial transactions worldwide. Leveraging blockchain technology, cryptocurrency has managed to set up a decentralized, transparent, and inaccessible accountable system.
About Triall
Triall is the world’s first organization to implement blockchain in clinical trials. They have a working commercial product, existing clients, and a revenue-generating business that they’ve been building since 2017. Combined, Triall’s team has managed 100+ clinical trials, established successful companies (both in the healthcare and software industries), and published 250+ academic papers about medical innovation, including in top-tier journals such as Science and Nature. Triall is motivated to bring the power of blockchain technology to its industry domain. Supported by an international partner and customer network, they build towards the world’s first blockchain-enabled digital ecosystem for clinical trial professionals. Triall is integrated with well-established public blockchains, and $TRL is an ERC20 token.
How does Triall work?
Currently, Triall is building the world’s first blockchain-enabled clinical research ecosystem that provides software solutions and APIs for all industry professionals involved in clinical trials. Triall aims to use the advantages of blockchain technology to truly add value, by promoting trust, research data integrity, auditability, and system interoperability. Their initiative is geared towards solving many persistent problems that make medical innovation complex, lengthy, and resource inefficient.
Triall envisions the world’s first online environment that is inclusive to all types of clinical research professionals — regardless of function, budget, or organizational type. From first-time PhD researchers to experienced industry professionals, from pharmacist to research nurse, Triall is committed to optimizing and simplifying clinical operations for all.
Their online environment is managed by the non-profit Triall Foundation, which is responsible for the development, management, and maintenance of the ecosystem and its functionalities. This foundation hopes to reinvest any future excess income in the clinical community through incubator and charity schemes.
Next to providing off-the-shelf solutions that meet industry needs, Triall aims to create an environment in which novel initiatives from the community are supported and facilitated to thrive. This makes Triall function as a true clinical trial ecosystem, and, at the same time, enables them to provide solutions tailored to the specific needs of the clinical research community.
Triall solutions are currently integrated with the Factom protocol, an open-source data integrity protocol that is fully optimized for enterprise adoption and has a track-record of industrial and governmental applications. Integrating with Factom has provided Triall with network strength and security right from the start.
Triall will undoubtedly turn this vision into a reality. Although blockchain technology is still a novel concept, it has become one of the catalysts for the paradigm shift in the healthcare services industry. Triall has created a precedent for the clinical trial industry, using blockchain solutions to provide new growth opportunities for clinical research.
Triall Ecosystem
The Triall Ecosystem is designed to serve the needs of all key stakeholders involved in clinical trials. We’ve grouped them into the following types:
1. Researchers
All stakeholders involved in the implementation and management of clinical trials, including sponsor representatives, contract research organization staff (e.g., project managers, clinical research associates, monitors, and data managers), site staff (e.g., investigators, research nurses, and pharmacists), and other parties that want to make use of the applications offered in the Triall Ecosystem.
2. Providers
The organizations that provide software solutions for clinical trial operations. By connecting to the Triall Ecosystem, they can leverage blockchain-enabled data logging and authentication functionalities and other microservices, and they can offer their solutions within our multi-sided digital marketplace.
3. Patients
These are the research subjects (patients or healthy volunteers) that participate in clinical trials. They can be connected to the Triall ecosystem through our patient-level eHealth applications that aim to actively inform, recruit, engage, and empower this key stakeholder group throughout clinical trial lifecycles.
4. Contributors
Organizations and individuals who provide technical services for the ecosystem and its community. They write, run, and audit smart contracts or provide specifications, applications, or APIs for systems and their users. These smart contracts, APIs, and applications provide additional functionalities for other stakeholders.
5. Maintainers
These are the organizations or individuals responsible for providing the underlying infrastructure on which the Triall Ecosystem operates, such as node operators and (cloud) storage providers. Factom’s independent Authority Node Operators*** for instance ensure network integrity by verifying data blocks and writing to a blockchain ledger. They provide strength, speed, and security to the network by adhering to a shared governance system, being fully decentralized, and running full nodes with strict hardware requirements.
6. Triall Foundation
The Triall Foundation is the non-profit organization governing the ecosystem, empowered by the Triall Community. The foundation is a public service provider that acts on behalf of the community, and is responsible for the daily operations, management, development, and maintenance of the Triall Ecosystem.
7. Triall Community
The Triall Community comprises all organizations and individuals that want to support the growth and development of the Triall Ecosystem, for instance, by participating in decision-making, panels, discussions, development, or outreaches. Community members can be part of the stakeholder groups mentioned above, but any party or individual with a genuine interest in the ecosystem is welcomed.
Token
Triall will offer 52% of the total TRL token supply to the community through its Initial Token Offering (ITO) and through the Triall Community Fund. This ITO serves to distribute early access to the Triall ecosystem and will support in funding its development. TRL tokens are issued using the ERC-20 standard on Ethereum and are available for anyone meeting our legal requirements.
Conclusion
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. Triall is a very ambitious project with the sense of helping everyone around the world. The medical industry is currently very inefficient and by using the two break-through technologies such as the AI and blockchain technology will certainly help the cause. With such great use-case, this will definitely resonate in the minds of many and will help create a better world.
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PS: A sponsored article written for a bounty reward