Aiisma opens MENA HQ office in Sharjah looking to turn data into dirhams
UAE residents are being given the chance to profit from selling their personal data.
Aiisma, which was established in Las Vegas, USA, in 2018, bills itself as a disruptor of the traditional data collection industry.
It has expanded into the Middle East with the opening of its MENA headquarters in Sharjah and its ecosystem is set to launch in the UAE and Indian sub-continent in Q4 this year.
Ankit Chaudhari, co-founder of Aiisma, said: “If you had an oil rig, you would not give your oil away for free. So why give your data away without charge when it can be just as valuable? This recognition was part of the motivation to create a transparent data transaction ecosystem between the consumer and the businesses, disrupting dated, traditional data gathering methods.”
The mission of Aiisma is to return the ownership of data back to consumers, while giving businesses the opportunity to consensually and legally have access to consumer data at a fair price and under transparent conditions.
Aiisma doesn’t charge consumers any fees for using the ecosystem. Instead, the platform operates on a ‘reward per share’ model, rewarding consumers for the data they choose to share.
Chaudhari told Arabian Business the venture was fully compliant with global data protection laws. He said: “The Aiisma platform is being built with an emphasis on security and privacy improvement. It utilises distributed ledger technology, more commonly known as blockchain, to ensure security, as well as the privacy of users while they engage with Aiisma. The platform will permit consumers full discretion and precise control over how and what data is shared within the Aiisma ecosystem, connected Aiisma devices or the operating system, including control over the duration and purpose of sharing.
“Consumers will only have the ability to share behavioural data and not personally sensitive data within the ecosystem. For example, consumers can choose to share the number of text messages sent or received from a device within a certain time span but not the context of each message being sent from the device.”