Blockchain startup Triall launched its ETH<>BSC bridge on Thursday, taking an important next step towards its vision of creating a multi-chain digital ecosystem to secure and streamline the development of new medicines. The bridge launch coincided with a DEX listing on PancakeSwap, and represents the next big milestone after the project completed a successful IDO at Uniswap on September 28.
Clinical trials: a lengthy and complex process
Triall brings Web 3.0 technologies to the 200-billion-dollar industry of clinical trials, an industry that works to research the safety and efficacy of new medicines so these can be applied to prevent or treat diseases. It currently takes 10 years of clinical trials on average before a new medicine can enter the market; a process that involves many different stakeholders across various locations, each applying their own systems and workflows.
Today’s lengthy development timelines are fueled by increasing amounts of data, often scattered across different systems and devices. Not surprisingly, the vast majority of medical researchers experience a lack of oversight in their clinical trials, and often struggle to ensure that research data remains complete, consistent, and accurate over time.
How Triall is transforming medical research
Triall was founded in 2018 by a team of medical research professionals to directly target these growing industry problems. Combined, the team has managed 100+ clinical trials and published 250+ scientific papers on innovation in medical research. In three years time, Triall has grown into a global initiative that includes leading partners and key opinion leaders from across the clinical trial, enterprise software, and blockchain/crypto domains.
The project provides a blockchain infrastructure that enables the integration of clinical trial software into a decentralized digital ecosystem: the Triall ecosystem. By connecting to Triall’s infrastructure, researchers can secure their systems, data, and workflows. As a result, clinical trial evidence cannot be manipulated, and systems and devices can exchange data in a secure and traceable way.
Over the past three years, Triall developed and commercialized its first in-house product Verial eTMF; a document management solution that enables users to establish verifiable proof of the existence and integrity of clinical trial documents using blockchain technology—a world’s first in the clinical trial industry. Verial eTMF is now being used across multiple commercial clinical trial projects, and will soon be onboarded in a COVID-19 vaccine clinical trial.
Towards a multi-chain future
The Triall project introduced its utility token ‘TRL’ on September 28, after a successful pre-sale campaign that raised 2.4M USD. This utility token functions as the ecosystem’s primary means of payment, while also enabling P2P compensation, community engagement, governance, and token lock-up incentives such as memberships and staking.
As part of its vision to build a multi-chain digital ecosystem, Triall launched a ETH<>BSC bridge for its TRL token. This launch coincided with a token DEX listing on PancakeSwap to further promote the liquidity and tradability of TRL. The project is also considering to soon open a staking pool on BSC and the team has hinted at an upcoming CEX listing.
For more information on how Triall is using blockchain to revolutionize medical research, visit their website triall.io.
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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
