• HISTORY
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2038-01-19
2038 *nix date bug
The dreaded "2038" bug hits many embedded financial systems. Particularly devastating was the fact that most ATM machines rejected withdrawal requests due to an inability to verify customers' accounts from 68 years in the past. This caused many fearful customers to withdraw their savings. Banks of course had insufficient supplies of cash on hand to accomodate the rush and this started a panic. However, the more important problem was not discovered until the next day when financial institutions found that nearly $1.7 trillion had simply been lost when various computer systems were not able to accept each others' transaction requests.
~ Kelly Chien
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