Oshani Seneviratne | Source | Assistant Professor, Department of Computer Science at Rensselaer Polytechnic...
Oshani Seneviratne
Oshani is the Associate Director of the Tetherless World Constellation and an Assistant Professor in Computer Science. She was previously the Director of Health Data Research at the Rensselaer Institute for Data Exploration and Applications.
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Rensselaer Polytechnic Institute
Assistant Professor, Department of Computer Science
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Rensselaer researchers work to avoid future FTX debacles
The Center for Research toward Advancing Financial Technologies (CRAFT), a collaboration between Rensselaer Polytechnic Institute and Stevens Institute of Technology, is dedicated to advancing blockchain technology so that scams along the lines of FTX’s can be avoided. CRAFT researchers from Rensselaer recently presented their findings on blockchain interoperability and cryptocurrency scam detection at the 2022 IEEE International Conference on Big Data.
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It could be argued that FTX’s collapse would not have happened if it had embraced the principles that blockchain and cryptocurrencies were founded on, namely decentralization and transparency. However, exchanges such as FTX exist due to problems with asset custodianship, as novice crypto users can lose access to their assets in various decentralized systems if they lose their private keys. Therefore, as cryptocurrencies become more mainstream, and since there is no single, dominant blockchain, we need robust interoperability solutions that will provide stability in the absence of complete decentralization.
