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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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26523706 No.26523706 [Reply] [Original]

Is it true that COBOL and Fortran are still being used by the legacy banking system?

>> No.26523914

I know the answer, but why are you asking /biz/

>> No.26524058

>>26523706
Lmao, yes

>t f100 insurance co

>> No.26524217

>>26523706
The system is running. It works as it has worked for decades. Why do you think a financially astute business would touch a system that keeps running fine as it is?

>> No.26524839

>>26523706
yes retard, we told you in your last thread why do you need to make a nother one
it costs a lot to change them but doesnt bring in money so they dont do it

>> No.26524920

>>26524839
It wasnt my thread. I was going to post, but it was archived.
So this system have 1000% more vulnerability than bitcoin.

>> No.26524966

Yep. Fortran isn't just used for baking either.

>> No.26525051

>2027
>bitcoin at 1 million
>quantum computers in enough quantity to make a attack
>bitcoin migrates to quantum-resisting code
>qcs attacks all the other infrastructure
>banks, power, water, everything goes south, except bitcoin
>the great exodus starts
>first citadel founded

>> No.26525232
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26525232

>>26525051

>> No.26525414

>>26525051
you know that your wallet will be hacked as soon as that happens, r-right anon?

>> No.26525572

>>26525414
you know all crypto will be moved to q resistant chains before this will happen

>> No.26525695

>>26523706
I fully believe that some old weapon systems that still need to be online as deterrents use punch cards

>> No.26525721

>>26523706
Ethereum 2 is already q resistant

>> No.26525988

>>26523706
Yes. Banks are not interested in code cowboys who roll together the best shit ever in a weekend and literally BTFO BTFO BTFO. The world doesn't go from something that works to complete uncertainty because coke fueled speculators want it to happen. It will take something as large and coordinated as moving off the gold standard to motivate this and will probably have to be something that already works so that they can migrate to it.

>>26525051
>Power goes
>Only bitcoin remains
Pick one.

>> No.26526273

>>26525414
The wallet on the bank? Yes, I know.

>>26525988
Portable solar panels will be more afordable by 2027. So you just connect a laptop on it during the Exodus.

>> No.26526311

>>26524920
1000x, not %

>> No.26526325

>>26523706
1. The cumulative cost of those systems are in the hundreds of millions.
2. The systems and the tooling behind them are not stagnant, even if some of the tools are >50 years old.
3. The systems W O R K
4. Serious fintech is, and let me be clear THANK GOD THEY ARE, wiser then to chase trends. Trust me, you don't want the IBAN network on fucking Javascript.

>> No.26526686

>>26523706
Fun fact, the performance of this tech is way better than Java, Python, JavaScript, C#...

It's hilarious when people shit on these languages and then propose stuff like Python to replace it.

>> No.26527480
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26527480

Not learning Cobol to become a Cowboy and get paid $300/h