I have a study in Parallel Programming this semester. However, the teacher is fairly lenient as far as projects are concerned. I am looking for some interesting project relating to Erlang. The leading idea right now is to create some sort of distributed computing framework. The idea would be using Erlang to communicate between nodes and then have each node communicate with a local process which does the actual computing (assuming Erlang could not handle the calculations). The major implementation would be a BLAST algorithm since that seems fairly easy to distribute and could possibly have some use at my college. Other ideas include some sort of fault tolerence framework or application which handles nodes going down well. That would seem fairly easy in Erlang so that probably would not provide a semester worth of interesting work. Another possibility is a peer-to-peer chat application where each user contributes to the number of possible people to host.
Hrmm, hopefully I'll get a better idea soon.