nixCraft 🐧 on Nostr: Many similar projects failed within months when big banks tried to replace COBOL with ...

Many similar projects failed within months when big banks tried to replace COBOL with modern stacks like Java. Even today, IBM is working hard to promote AI use cases for translating massive legacy codebases to modern alternatives, yet there are very few takers because banking or financial institutions are highly regulated and losing people’s money is a significant risk and bad press waiting to happen.