http://nextbigfuture.com/2011/05/henry-markram-and-human-brain-project.html

Henry Markram says the mysteries of the mind can be solved -- soon. Mental illness, memory, perception: they're made of neurons and electric signals, and he plans to find them with a supercomputer that models all the brain's 100,000,000,000,000 synapses.

Markram's TED talk:

http://www.ted.com/talks/henry_markram_supercomputing_the_brain_s_secrets.html

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This is exciting, but I feel the need to mention the Planning Fallacy. I'll be very happy if it gets done in 20 or 25 years.

HN discussion with some interesting comments:

http://news.ycombinator.com/item?id=2561354

After reading the nextbigfuture article and hackernews thread, I still don't understand what this project plans to do.

They appear to be aiming for whole brain emulation, trying to scale up previous efforts that simulated a rat neocortical column.