Triall: Blockchain-endbled solutions for clinical trials.
Bringing web 3.0 to medical research by delivering blockchain-enabled software solutions for clinical trials
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ClinTex aims to provide data and blockchain services where the pharmaceutical industry is its primary customer. The driving idea behind ClinTex is to improve the efficiency of clinical trials through technology. By its own estimate, ClinTex suggests clinical trials may be running up inefficiencies to the tune of $600,000-$8M per day, while also delaying the launch of valuable drugs to market.
ClinTex already launched the Clinical Trials Intelligence token (CTi) toward the end of 2020. To boost adoption, ClinTex incentivizes current token holders through a six-month staking program. During that time, locked tokens will earn up to 40% interest if locked for the full period.
The additional 18.5M tokens, worth close to $1M, will be distributed to early investors that acquired CTi during the early stages of product development. CTi will be the only asset available to use the Clinical Trials Intelligence platform in the future to gain access to clinical trial data. CTi is available both as an Ethereum-based token and as an asset on Binance Smart Chain, a lower-fee network for faster transfers.
With its drive for adoption, ClinTex combines a publicly tradable token, available on KuCoin, with a tailored solution to build faster, cheaper clinical trials. Interest in the project has boosted the price of CTi since March 2021, riding on the bull market trend for tokens.
How does Triall work?
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.
Key stakeholder in the 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:
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.
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.
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.
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.
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.
Almost all blockchain projects promote themselves as the ultimate solution to the ongoing problem of scalability. Blockchain projects have traditionally struggled with scalability, decentralization, and security, a phenomenon that Atrium founder Vitalik Butrin calls the blockchain scalability trio. Triall are entering an era that is characterized by the democratization of innovation. Large incumbent parties, and small niche innovators together collaborate to further the development of innovative medicine. Hand in hand with this trend, regulatory compliance is more important than ever. These developments deserve an infrastructure that supports collaboration, innovation, and compliance at the same time, and Triall offers exactly that. I am excited to be a part of this, and look forward to new innovations that build upon Triall’s ecosystem to address society’s unmet medical needs.
A sponsored article written for a bounty reward.