Illustration: Digital network. Credit: Sergey Nivens/Adobe Stock

Airplanes wouldn’t be able to land. Power plants would shut down. Those were just some of the dire predictions faced by computer programmers and users worldwide as the year 2000 approached. In the end, the millennium bug that was widely expected to create computer chaos turned out to be more of a punch line to jokes than an actual problem.

Two decades later, the crypto world could be facing its own Y2K moment, when the Ethereum network undergoes a major software upgrade in September. The revamp, known as “the merge,” is being billed as a seamless transition that shouldn’t be noticeable to users of the most commercially important blockchain. Not everyone is convinced, especially when it comes to the more than 3,400 active distributed applications that are built on the platform.

“You know there will be those edge cases that will be interesting and exploitable,” said Toby Lewis, CEO of Novum Insights, a crypto analytics provider. “One thing I can guarantee: It’s going to be a very bumpy ride.”

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

Dig Deeper

 

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2022 ALM Global, LLC. All Rights Reserved.