I am a person who specializes in cloud native infrastructure, not a COBOL programmer, but if you're like "lol why don't banks and governments migrate to modern systems?!" I have some news for you about the security of bleeding edge systems
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Security thru obscurity might be a fair assessment. I don't trust software design for big iron to be secure, but I had read a whitepaper ages ago describing how AS/400 was designed for extremely high reliability and to discourage low-level side-channel attacks. Can't find it now
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Nobody *knew* about modern side channel attacks back then. Any security claims from old systems are unlikely to hold up to modern scrutiny (and unlikely to apply to modern hardware for those platforms; everyone is doing the same stuff). Now reliability, yeah, IBM does that well.
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