Y2k Problem
A potential electronic and computer hardware/software problem that is expected to affect users at the turn of the century. It is a year-date coding problem that results from using only two-digit year dates instead of four. Once the new millennium occurs, computers and other equipment using computerized technology may have a problem understanding what year is 1900 or 2000. The resulting problems may range from systems or programs that do not work at all, to ones that are inaccurate. Important data may be lost and, overall, a great many potential problems may occur unless individuals and businesses have carefully evaluated and upgraded their software and hardware. The actual impact is not yet known. Also called the Millennium Bug or the Year 2000 Problem.