Aircraft will not be able to take off, your bank account will be wiped out, the national grid will collapse!

The Year 2000 issue, otherwise called the Y2K issue, the Millennium bug, the Y2K bug, or Y2K, is a class of PC bugs identified with the designing and capacity of schedule information for dates starting in the year 2000. Issues were foreseen, and emerged, on the grounds that numerous projects spoke to four-digit years with just the last two digits — making the year 2000 undefined from 1900. The presumption of a twentieth-century date in such projects could cause different mistakes, for example, the off base show of dates and the wrong requesting of mechanized dated records or continuous occasions. 

In 1997, the British Standards Institute (BSI) created standard Disk PD2000-1[1] characterizing "Year 2000 Conformity necessities" as four principles: (1) No substantial date will cause any interference in activities; (2) Calculation of lengths between, or the succession of, sets of dates will be right whether any dates are in various hundreds of years; (3) In all interfaces and in all stockpiling, the century must be unambiguous, either indicated, or measurable by calculation; (4) Year 2000 must be perceived as a leap year.

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