Crypto-currencies and smart contracts are a new wave of disruptive technology that will shape the future of money and financial transactions. Today, crypto-currencies are a billion-dollar market, and hundreds of companies are entering this space, promising exciting new markets and eco-systems. Unfortunately, usage of crypto-currencies outstrips our understanding. Currently most crypto currencies rely on heuristic designs without a solid appreciation of the necessary security properties, or any formal basis upon which strong assurance of such properties might be achieved. This work aims to establish a rigorous scientific foundation for crypto-currencies. To achieve this, this work blends cryptography, game theory, programming languages, and systems security techniques. Expected outcomes include new crypto-currency designs with provable security properties, financially enforceable cryptographic protocols whose security properties are backed by enforceable payments in case of a breach, smart contract systems that are easy to program and formally verifiable, as well as high-assurance systems for storing and handling high-value crypto-currencies and transactions. The project will provide solutions to some of the most difficult and important technical questions surrounding the current digital-money revolution. The investigators will organize a crypto-currency speaker series that will bring together technologists, economists, social scientists, and policy-makers to foster collaborations that will shape the future of digital currencies.
TWC: Large: Collaborative: The Science and Applications of Crypto-Currency