Y2K Problem

The Y2K Problem, also known as the Millenium Bug, the Y2K bug, or Y2K, caused mass hysteria, because people did not think computers could handle the change of date from 12/31/1999 to 01/01/2000. There was an estimated $300 billion spent in order to upgrade computers and application programs to be Y2K-compliant.
On January 1, 2000, computerized systems were reported to still be intact, and relief filled news media. Shortly after, accusations that the incidence of failure had been greatly exaggerated from the beginning began to fly. However, those who had worked in “Y2K-compliance efforts insisted that the threat had been real” (Encyclopædia Britannica, 2019). The result of the success in collective efforts to protect computerized systems was proven by the “continued viability of computerized systems”
(Encyclopædia Britannica, 2019).