Y2k Essay, Research Paper

Y2k CRISIS

On January 1, 1999, the Year 2000 computing machine crisis will

Begin. On January 1, 2000, there is a good possibility computing machines

around the universe will crash, stop deading systems for hours, yearss,

hebdomads, months or even old ages. The public merely does non look to

understand the gravitation of this state of affairs. See these existent

events: In November 1996, Mike Yarsike, who owns a epicure nutrient

market in Warren, Michigan ran a client & # 8217 ; s recognition card through

his machine. Ten computerized hard currency registries in the shop locked

shut for four hours ; 15 months subsequently, the system was still

sing bugs. The recognition card has an termination day of the month in

the twelvemonth 2000. An assignment clerk in a medical organisation

attempted to do an assignment for a patient for January 2000,

the full computing machine web that serves 75 clinics and three

infirmaries shut down for hours with go oning jobs. These

sorts of computing machine bugs, called & # 8217 ; sightings, & # 8217 ; disrupt the

normal flow of concern and are happening throughout the universe

whenever the day of the month being entered is 2000 or beyond. There are

1000000s of computing machine package plans that can non read any day of the months

beyond 1999 and experts in the field have eventually realized that

non even Microsoft can offer a simple one-shot solution. Alternatively,

there are now hosts of coders across the universe correcting

the job, line by boring line at tremendous costs to both

authoritiess and companies ( Rock and Reynolds, 1998 ) .

The Year 2000 Computer Bug, besides known as the Millennium Bug

and as the Y2K bug sounds absurd but it is existent and it could

cause mayhem in the universe. Most computing machine plans have a

two-digit day of the month field, therefore when the twelvemonth 1998 is keyed in, the

computing machine reads merely & # 8220 ; 97. & # 8221 ; When the twelvemonth 2000 arrives, it will

registry in the computing machine plan as & # 8220 ; 00, & # 8221 ; and it will interpret

that to 1900, non 2000 ( Bordwin, 1998 ) . The two-digit format,

originally intended to salvage clip and infinite on the plan foliages

the computing machine unable to separate between 2000 and 1900 or 2001

and 1901. The ambiguity can do the system or application

plan that uses day of the months to execute computations comparings, or

screening to bring forth wrong consequences. Mistakes could happen in

ciphering truth-in-lending/savings revelations, ciphering

involvement, or finding amortisation agendas. Automated Teller

machines might presume that any bank card with the twelvemonth 2000 on it

is expired. These sorts of mistakes may good expose the fiscal

establishment to fiscal liability. Credit brotherhoods interface with

legion other computing machine systems that belong to payment centres,

wire transportation systems, automated glade houses, look into uncluttering

houses, recognition card merchandisers, automated Teller machine webs,

electronic informations exchange systems and more. These other systems

increase the exposure of the recognition brotherhoods ; they can

integrated mistakes into the recognition brotherhood & # 8217 ; s records and systems

( MountJoy, 1998 ) .

These are non the lone establishments that will be affected.

Telephone systems may close down every bit will security and dismay

systems, fax machines, lifts and even electricity. Anything

that is connected to a computing machine, that depends on a computing machine is

vulnerable ( MountJoy, 1998 ) . The general populace, the norm

individual is for the most portion unaware of the annihilating consequences

that are possible due to the Year 2000 job.

Experts say this will do computing machines to crash and/or to

make a assortment of jobs, such as including fake informations or

absurd consequences in the plan or records. The consequence could

be, and in fact, is likely to be, erroneous informations for an

single & # 8217 ; s stock portfolio, bank histories, societal security

cheques, in fact, the fiscal establishment could lose all records

of single members. It could besides intend loss of power, loss of

all services that we take for granted in our normal mundane

lives. The possible and likely jobs are so huge that books

have been written about it and tonss of Internet sites exist

that give information about how to protect yourself. For those

companies who have non yet begun to rectify the job, it is

already excessively late. There is non enou

gh clip now nor are at that place

plenty trained professionals to look into 1000000s or one million millions of

lines of computing machine codification to place and rectify the job. The

consequences are legal issues, direction jobs and safety jobs

( Bordwin, 1998 ) .

Legal suits have already been filed because of the job.

In June 1997, a supermarket operator filed suit against the

maker of its computing machine system and the company that sold

them the system. The computing machine could non treat recognition cards with

an termination day of the month in 2000 or beyond. The shop lost clients.

In November 1997, Dutch air hose KLM issued a warning: it may

land some aircraft on January 1, 2000 if certain paths are

found to be insecure because of Y2K bugs. A spokesman said that KLM

has a complex web of complecting computing machine systems that includes

radio detection and ranging and air-traffic control systems. A computing machine bug could

cause a plane clang, a hit. Both Lufthansa and Northwest

hold besides issued the same qui vive. This brings up two important

jobs: foremost, safety and 2nd, canceled flights leave

travellers stranded and disrupt concern or economic sciences. ( Bordwin,

1998 ) .

There are some experts that are foretelling that 15 per centum

of concerns will non last the Y2K, they will travel bankrupt. It

International Relations and Security Network & # 8217 ; t even plenty for a concern to work out their ain Millennium

job, if all the computing machines with which they are linked are besides

non corrected merely networking into them could do jobs.

Reuters, the U.S. Controller of the Currency, the president of the

FDIC and the president of the Stockholm Stock Exchange have all

addressed the mutuality of concerns. Bengt Ryden, of the

Stockholm Stock Exchange said: & # 8220 ; it is non sufficient simply to

hold put one & # 8217 ; s ain house in order. All the work one does may be

for naught, in footings of avoiding the fall-out from the Year 2000

Bomb, if affiliates, providers and clients have non, similarly,

had the necessary reappraisal and alterations performed. This

dimension of the job seems insufficiently understood & # 8221 ;

( Bordwin, 1998 ; p.NA ) . The dislocation between one concern and

another because one of them has non corrected the job will

lead to more cases and concern shut-downs.

The state & # 8217 ; s recognition brotherhoods are non prepared yet to run into the

new millenary. A GAO study stated: & # 8220 ; If the Year 2000 job is

non addressed in clip. Credit Union computing machine systems-which affect

one million millions of dollars of assets and transactions-will be unable to

readily process minutess or bring forth accurate information.

Harmonizing to NCUA. without belongings working systems, recognition

brotherhoods like other fiscal establishments face the potency of

failure & # 8221 ; ( MountJoy, 1998 ; p. NA ) . The study went on to state that

the NCUA is behind agenda in guaranting all the recognition brotherhoods in

the U.S. will hold the job corrected in clip. It must be

remembered than when any fiscal establishment fails, it can take

to fiscal ruin for some of its members. These are serious

economic jobs associated with Y2K. Assetss in recognition brotherhoods

entire $ 326 billion. About 25 per centum of the American population

belong to a recognition brotherhood and these establishments account for 2

per centum of the entire fiscal services in this state

( MountJoy, 1998 ) .

The Y2K job is serious ; it can ensue in mayhem and

desolation for every individual individual in this universe. Besides the

economic, legal and safety jobs cited here, it is likely to

lead to an break in every individual & # 8217 ; s life for at least hours

and perchance old ages.

Bibliography

Bordwin, Milton. ( 1998, February ) . The Millennium Bug Gets

Ready to Bite. Management Review, Vol. 87.

Harney, John. ( 1998, January ) . Dancing to an international

day of the month alteration. HP Professional, Vol. 12, pp. 39 ( 4 ) .

MountJoy, Gary N. ( 1998, January 7 ) . Year 2000 Calculating

Crisis & # 8211 ; Actions Needed To Address Credit Union Systems & # 8217 ; Year

2000 Problem. Washington, D.C. : Government Accounting Office

Report.

Rock, Andrea and Reynolds, Tripp. ( 1998, February ) . The Year

2000: The Year 2000 Bug It & # 8217 ; s clip to look into your investings,

financess, bank, recognition cards, place computing machine and more to avoid the

worst of. Money, pp. 48+ .