CROWDFUNDING SYSTEMS: evaluation and government regulation in the conditions of reengineering

As for moderators of crowdfunding platforms , their main functions at this stage are: ڰ organization of cooperation with payment systems; ڰ payment of commission charges to the payment system; ڰ the transfer of accumulated financial resources to the authors of the projects, excluding their own commission charges; ڰ informing potential contributors via mass media about existing crowdfunding projects; ڰ collection and analysis of statistical data on crowdfunding activities. Sometimes you can also highlight the sixth stage — modification of an existing project for its next placement on a particular crowdfunding platform. The model also describes direct and inverse relationships between crowdfunding participants. It is revealed that the main number of functions and responsibilities are performed by project authors: recipients and mediators of the crowdfunding platform. State and local authorities play an active role in the crowdfunding project model. These participants should guarantee these functions: ڰ legislative support; ڰ providing information to other participants and the general population, which will mean that the state recognizes this method of accumulating funds at the level of other financial instruments; ڰ establishing common «rules of the game» for participants in crowdfunding activities and monitoring their implementation; ڰ the regulatory function: to monitor the status of crowdfunding systems, analyze development indicators and implement actions to eliminate shortcomings and deviations. As can be seen from the proposed model, non-profit organizations are other participants. Their main goal is to popularize crowdfunding as a method of raising funds and increase public confidence in it. These organizations provide a variety of services and tools to address the challenges that investors and contributors may face. They also inform about the advantages and disadvantages of supporting various types of crowdfunding projects, teach how to invest wisely and avoid fraud, answer questions, complaints, and suggestions from the public, etc. Usually, the creation of such non-profit organizations is initiated by state authorities. In case of the absence of these participants in the crowdfunding system, the above functions should be assumed by the state. 105