Detecting money laundering in cryptocurrency economy (available)

Starting Date: June 2018
Duration: 8-10 Weeks
Time commitment: Full Time
Prerequisites: Computer Science Undergraduate Student, Enthusiasm and desire to be a problem solver.

Project Description

Cryptocurrency networks are unique in a way that all the transactions are public. All payers and receivers are known, and their respective pseudonyms are public. Whereas the inherent anonymity enabled by the pseudonyms and privacy-preserving protocols, cryptocurrency can be argued to be a suitable platform for money laundering activities. In this project, the question of whether money laundry kind of activities is possible in cryptocurrency network is reasonable or not, and if possible, what technological mechanisms can be designed to detect it.

The respective UROP recipient will be pivotal in shaping the scope of this project and lead the research activities in collaboration with the ISG-SCC team.

Required Technical Skills

ISG-SCC value the enthusiasm and commitment significantly and considers technical skills as an acquirable skill during the internship. However, basic understand and knowledge of blockchain, data mining and machine learning will be desirable.

What will you gain during UROP?

During this internship, the objective of the ISG-SCC is to make sure that you develop your independent research and development skills and enhance your skills on a) presenting the project’s progress, b) keeping in line with time management, b) research methods, c) technical writing skills for project outcomes and d) problem identification and solving.

ISG-SCC Track Record

ISG-SCC has successfully run the UROP for the last two years. The success of the previous two years has produced a patent application (under review by patent office) and commercial demo (MVP) under development, and five research papers. Corresponding undergraduate students are named as first authors on the papers and co-inventor on the patent application. Research papers by undergraduate students have won one ‘best student paper award’, featured in a news article on Medium and being pivotal for a World Economic Forum’s project for anti-corruption project. The ethos of ISG-SCC is that undergraduate students have the talent and imagination to sort out unique and innovative solutions. They just need guidance from established researchers, and this is what ISG-SCC will provide during the UROP.