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

as products for improving energy efficiency, etc (Global Accelerator Report). According to the research of the project «International Partnerships for the Stability of the Financial Sector», Ukrainians do not feel comfortable using financial services or interacting with financial institutions. According to research results (USAID), more than 7% of the population in Ukraine believes that they do not know anything about financial literacy, 25% rated their knowledge unsatisfactory, 46% believe that they understand the features of financial services at an average level, 16% understand well, and 4% — perfectly. Regarding their own mathematical abilities, respondents believe that 14% of them do not know anything, 36% have unsatisfactory knowledge, 26% have satisfactory knowledge, and 24% of respondents rate their knowledge as «good». Regarding the knowledge in financial terminology, the situation is even worse because more than 20% of respondents indicated a complete lack of knowledge in this matter, 45% rated it «unsatisfactory», 22% — «satisfactory» and only 11% indicated good knowledge. The research «Law, Trust and Development of Crowdfunding» of the Cambridge Center for Alternative Finance is based on the analysis of 1362 crowdsourcing and crowdfunding sites in 2015. The study covered four types of financial sector business models: ڰ debt platforms that specialize in crowdlending, selling mini-bonds and invoices; ڰ equity crowdfunding platforms that allow companies to receive funding from investors; ڰ platforms based on compensation, for which the recipients promise to support for non-monetary rewards; ڰ donation platforms. Around the world, 98% of all crowdfunding platforms are based on debt and equity obligations, however, in developing countries, platforms that operate based on non-financial remuneration and charity prevail. One of the research thoughts is that the total amount of crowdfunding is deeply positively related to the level of market development. Three factors significantly affect the amount of crowdfunding in a country (Raghavendra, 2017): ڰ aspects of the legal system, such as corruption control and regulatory quality; ڰ expenses for using the services of traditional financial institutions; 129