Hi Piyush,
Privly is software for shipping many privacy applications via the webapplication stack. Many of these privacy/cryptography applicationswill require cryptographic identities.
The idea behind this Android project is to implement key sharing
functionality in such a way that users ignorant of the existence
and security properties of key signing parties will be able to
exchange cryptographic keys while exchanging contact information
in-person.
You should only approach this project if you are interested
in thinking about the security properties of key consensus protocols
and usability. I think a realistic goal for the summer would be to fully
specify the system and prototype a few exchange mechanisms
between mobile devices.