Plural
form of this phrase suggests that there is a set of various services, actions
that provide a financial (payment to be more precise) services to the merchant.
Merchant services are situated between the merchant and the costumer during the
commercial transaction, because the money should move through the merchant
services provider’s system. Merchant services are provided via credit cards,
debit cards, electronic payments methods. Typically the banks, credit card
companies or other businesses are providers of such services.
In
the cryptocurrency sector merchant services encompass cryptocurrency payment
services.
How
merchant services work?
Merchant
services receives cryptocurrency payment from a customer on behalf of the
merchant. A merchant will receive funds via immediate settlement to their bank
account, or may choose to settle in cryptocurrency.
Cryptocurrency
can now be accepted online and in person, for online transactions you will
require a payment gateway which will accept cryptocurrency. The most common way
is through bitcoin online payments; however, solutions are available for most
mainstream providers.
Identification of the hacking problem – study on the example of law firm clients providing cyber security solutions
Identification of the hacking problem
Based on the US Cybersecurity Trends Report (link to an
online source at the end of the article), the hacking phenomenon records an
increase in cyber-attacks in 2019 and 2020. From the legal perspective, what is
particularly interesting is a significant increase in the recorded data loss
events as a result of hacking activities in relation to the number of cases in
individual years in the 2015-2020 prediction. One of the studies in the
indicated report shows two specific moments over the years. The first one took
place in 2016-2017, where we see an increase in hacker attacks by nearly 2,000
violations, but this is not related to a proportional increase in lost data,
which differs from those from 2016 by about 1.5 million. In 2017, there was a
slight increase in infringements, but more importantly, less data was lost. The
second of these important moments indicated by the experts took place in
2018-2019, when there was a drastic increase in lost data with a slight
increase in violations compared to 2018. We are seeing a drastic decrease in
the number of breaches with a simultaneous huge increase in lost data.
From the analysis of the report, a surprising conclusion
can be drawn that currently data breaches by hackers are less and less frequent
compared to previous years, but much more effective.
The report also shows annual global cybersecurity
transactions and equity financing in 2016-2021. In this respect there can be
observed the huge projected increase in cash outlays for the cybersecurity
target compared to 2020. The projected increase is over $ 10 billion. Despite
the increase in spending, there has been a decline in the number of
cybersecurity contracts.
The report presents the share of global cybersecurity
transactions in 2020 by country. The first thing that throws up is that the US
has over a half of shares in global market and is thus becoming a sort of
hegemon in the fight against hackers. China ranks second with 12%. On the other
hand, Israel ranks third with a 10% share, also showing a 4% increase compared
to 2019. With the same trend, it has a good chance of overtaking China in this
respect. The report shows the number of annual departures from the
cybersecurity sector through mergers and acquisitions and stock market debuts.
In the years 2016-2019, an upward trend can be noticed. From year to year, the
number of departures increased by 100.
The report also shows the ratio of the increase in the
number of the so-called megarounds (contracts worth over $100 million), which
results in an increase in the volume of transactions.
All these increases in value did not go unnoticed. The
consequence of the development of this type of industry, which is
cybersecurity, is the creation and development of private companies. There are
already over 30 companies in the world involved in the development of
cybersecurity technologies, the value of which exceeds $ 1 billion. In Europe,
for example, Acronis is such a company.
Almost 75% of cyber defenders are based in the United
States, most of them in California. Second place, with almost 20% concentration
of cyber defenders, is Israel. Canada and Ireland boast one “cyber
defender” within their borders. In Canada it is the company
“Isara”, and in Ireland “Tines”.
Methods of counteracting cyber attacks
There can be differentiated various methods of counteracting cyber-attacks. Most innovative ones are presented below:
The main task of the Polish Platform for Handling Investment Projects (POPI)
is fast and accurate implementation of broadly understood investment projects,
which is (as the Polish Ministry of Health maintains) one of the most important
activities of the Ministry of Health. In order to bypass many entities that
would be involved in the implementation of a given investment, the Ministry of
Health brought to life the POPI platform, which automated the above-mentioned
process and thus facilitated navigation in the area of investment projects and
increased the number of investment projects implemented in the area of health.
The platform for servicing investment projects of the Polish Ministry of Health
is a place bringing together entities that are directly involved in the process
of launching investment projects. As part of this platform, entities can apply
for funds for any investment co-financed by the Ministry of Health.
Additionally, the POPI platform can function as a place where applications are
assessed, and the given investments are monitored and settled. It should also
be remembered that mutual contact regarding the implementation of specific
investments is also part of POPI.
The Investment Project Support Platform (POPI) is available at the
following address:
It is also important that in order to fully use the POPI platform, it is
required to set up an account through a certified profile, and to submit the
application with the use of a qualified electronic signature.
This
text is an instruction on how to go through the electronic procedure on the KRS
(National Court Register) Portal to set up a simple joint-stock company in the
e-forms National Court Register application. We are going to show you a
shortened and simplified procedure in few steps on which the applicant should
(must) follow.
Log
in on the Court Register Portal and open the National Court Register e-forms
application program home page.
In
the application homepage, in the ‘Submit an application or an official letter’
section, on the ‘Applications’ tab, select the application category ‘Application
for registration’ and click the [Go to the petition].
On
the ‘Submit application’s’ screen, select the legal form of the entity ‘Companies’.
Select
‘Simple Joint- Stock Company’ from the list of available legal forms. On
the screen will be displayed the first tab of the application entry form for
entity registration in the register of entrepreneurs for a Simple Joint- Stock
Company.
Complete
the ‘Application name’ tab. Leave the name suggested by the system,
modify it or input your own name of the application.
Brand New Online Portal of the Polish Register of Entrepreneurs of the National Court Register
On 1st July 2021 in Polish jurisdiction a revolutionary change has taken place. Namely, there has been amended an Act on the National Court Register (Journal of laws of 2021, item 112 as amended).[1] The amendment is about an introduction of an electronic registration procedure. Especially the form of filing applications for the entry in the Register of Entrepreneurs of the National Court Register will be changed.[2] The amendment mainly concerns the registration issue of the limited liability company and the partnerships.
The National Court Register Act amendment is caused by a necessity to implement the European Parliament directives and the EU’s Council directives on some of the company law aspects (2017/1132 EU; 2012/17/ EU, etc.).[3] The issue of the adaptation to the European Union law can be found in the first article (art.1) of the Amendment Act of the National Court Registration Act.
