Y2K Problem

In the year 2000 computers and various machines ran into the infamous Y2K problem. It was an issue resulted because practice of abbreviation of 4 digit numbers.

Example 1995 = ’95’ ,  1976 = ’76’

It became a real problem in 2000 because abbreviation of 2000 in unix code is ”00”. Machines think this number is actually an abbreviation of 1900, since both numbers end with two zeros.

Banks faced serious problems because they rely on time to calculate interest rates.