Triall starts data anchoring on the LTO Network
Triall has officially started data anchoring on Europe’s leading blockchain platform LTO Network to secure the integrity of clinical trial data. One of the first clinical trials to anchor data on LTO is a COVID-19 vaccine study that is currently using Triall’s blockchain-integrated document management solution Verial eTMF. Long-term Triall partner Sphereon has supported Triall with integrating Verial eTMF to the blockchain servers of LTO Network and all three parties look forward to continuing a long-term partnership over the coming years.
LTO Network is an award wining Dutch hybrid blockchain platform that focuses on digital ownership and identities. By combining private chains and a public Leased-Proof-of-Stake blockchain, LTO Network allows businesses to build privacy aware decentralized applications (PADA) that are GDPR compliant.
The project is considered one of the top blockchain platforms worldwide, which is exemplified by an average of 50k daily transactions, a total of 90+ nodes, and more than 60 ecosystem partners and the team is currently implementing their NFT2.0 roadmap which brings true digital asset ownership to blockchain.
Verial eTMF
Through its first commercial product Verial eTMF, Triall now anchors the research data of a COVID-19 clinical trial on the blockchain servers of LTO network — the world’s first COVID-19 clinical trial to be anchored on the blockchain! Through its integration with LTO, Triall has expanded its technology stack, which since its first successful product pilot in 2019 has been integrated with the blockchain servers of the Factom Protocol.
Why is this important?
To make sure that medicines are safe and effective for humans, candidate medicines have to be tested during so-called clinical trials. Due to the pandemic, the value of this industry is probably more evident than ever. Unfortunately, clinical trials are notoriously costly and inefficient. They take many years and involve increasing amounts of data, often scattered across different systems and devices. These issues drive up costs and reduce the safety and reliability of new medicines. Not surprisingly, only 1 out of every 10 candidate medicines manages to complete all clinical trial phases.
Over the past four years, Triall has been working with clinical trial professionals to reduce costs and improve efficiency in clinical trials. We have developed a document management solution called Verial eTMF, which now applies LTO Network’s blockchain technology to secure essential documents and medical data in clinical trials.
Verial eTMF improves clinical trial efficiency
The blockchain functionalities of Verial eTMF are unique in the ~200-billion-dollar clinical trial industry. Verial eTMF’s features directly answer to growing calls for data traceability by industry regulators, such as the US FDA and the European Union’s EMA.
By offering assurance of the existence and integrity of clinical trial data, Verial eTMF promises to secure and streamline clinical trial processes. Ultimately, this will translate in significant cost reductions and faster clinical trial timelines, accelerating the development of new medicines for patients in need.
About LTO Network
The LTO Network team is on a mission to create and maintain a fully decentralized and highly efficient blockchain infrastructure, directly applicable and aimed at creating value for organizations. LTO Network can be used by any company with a need for a production-ready blockchain that allows for digital verification of digital assets and enabling collaboration through the use of decentralized workflows.
Visit the website: https://www.ltonetwork.com
Twitter: https://twitter.com/TheLTONetwork
Telegram: https://t.me/LTOnetwork
About Sphereon
Sphereon offers a wide array of advanced APIs for document processing and blockchain functions. By offering APIs, they allow organizations to seamlessly connect their business IT systems with multiple blockchain technologies, document and workflows systems, and/or other business applications. Sphereon’s document APIs leverage technologies such as Deep Learning and Natural Language Processing to automatically analyze or classify data objects, photos, and documents and extract data.
Visit the website: https://sphereon.com
Twitter: https://twitter.com/Sphereon
About Triall
Triall brings Web 3.0 to medical research by creating a digital ecosystem of blockchain-integrated software solutions that secure and streamline the development of new vaccines and therapeutics during clinical trials. Triall’s solutions make clinical trials tamper-resistant, and enable secure and efficient integrations between the many isolated systems and parties involved in clinical trial processes. Triall’s software is created by clinical trial professionals to ensure optimal user experience, solving actual industry pain points.
Visit the website: https://www.triall.io
Twitter: https://twitter.com/triallofficial
Telegram: https://t.me/triallcommunity
