Each year, Siemens runs a competition in math, science, and technology. One of the regional competitions is held at MIT and this year a student from Bethesda won individual honors.
A Smart Student
Andrew Komo from Montgomery Blair High School developed a computer coded system which protects auctions online from cheating and fraud threats. His code won him a $3,000 scholarship and a ticket to the final phase of the Siemens Competition.
This final competition will take place on December 4th and 5th in Washington, D.C. There will be two $100,000 top prizes awarded for the winners at this phase.
A New Way to Do Online Bidding
Using Komo’s coding, bids are completely private from all parties, bidders and sellers included, until the end of the the auction. Even though the bids are hidden, the auctioneer can ensure that they are indeed valid.
The code is written in a way that allows bidders to see that the auction was run correctly once the cryptographic data is released at the end. This process guarantees a more fair price for items sold without the cheating or fraud.