The Year 2000 problem is actually a set of three problems that may occur on or about the year 2000. These problems may cause computer software, computer systems and computerized equipment to behave erratically or to cease functioning entirely. The main Y2K problem stems from the use of only two digits to store the year in computer data. The second problem results from the fact that some programs use special values for year as sentinels or special conditions. The third stems from the fact that the year 2000 is a leap year.
Dates are very important in our society.
An incorrect date could affect such things as interest payments, due dates, mortgages, bills, loans and stocks. But what if the computer thought it was 1900 instead of 2000. Dates are used extensively to determine if someone should or should not receive something such as pensions, retirement benefits, salary increases and tax refunds. They are also used in industry to control manufacturing processes, maintenance schedules and keep track of machine operations. Some programs use special dates as sentinels or indicators, which were never meant to occur as actual data.