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"IBM Mainframe: How it runs and why it survives" 🥲
1. It is not your "money". You are given a claim (i.e. a loan to the bank) in fiat currency when you hand over your currency to the bank.
2. A huge reason the mainframe won't be replaced is that the folks that programmed these in the 1960-1980s actually knew what they were doing, and each program has decades of proven track record. Compare that to the modern day software, with "we deploy several times a day" and "if it breaks, we can fix it quickly" script-kiddies.
@lupyuen Very interesting.
I was involved in Deutsche Bank's attempt to move off the Mainframe in 2014/2015 timeframe.
No one knew what it did, and my job was to figure out "what is running?".
I located (with help of a team of Indian COBOL experts that worked at DB) >20,000 COBOL programs, involved in 192,000 jobs, run hourly, daily, monthly or yearly.
There were active jobs referencing Cobol programs where the source code had been lost.
I left after 7 weeks, but I think the project died.