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

and a detailed description of each type will facilitate and simplify the development of an adequate and stimulating regulatory framework for regulating crowdfunding systems, as well as facilitate further research. 5. The typology and semantic content of crowdfunding development factors are developed. So, in general, the group of factors includes the following: the condition of the state's economy, the state of the banking system, the development level of the market of payment cards and electronic payment systems, level of incomes, the shadowing of the economy and financial sector in particular, the level of entrepreneurial activity, the availability and cost of credit products for entrepreneurs. The list of special factors for the development of crowdfunding includes the presence and share of the middle class in a certain country, the state of public confidence in the latest socio-economic and financial instruments, the propensity of the population to save, the availability of motivation among the population to micro-investments, the state of financial and technical literacy of citizens, the prevalence of phones and smartphones, the availability of Internet access, activity in social networks, etc. These factors are important in the context of developing and ensuring the success of crowdfunding systems. Improving the state of each of these factors in Ukraine will give a significant boost to the development of crowdfunding operations. 6. There was carried out a study on trends in the development of crowdfunding systems in the world, both at the global level and at the level of individual states. In particular, the experience of the United States of America, the Great Britain, France, the Netherlands, Germany, the Czech Republic, Poland, and Romania has been studied in this area. A regressive analysis of the main indicators of crowdfunding activity in the world has been carried out. The basic and modified models have been developed for the dependence of the number of crowdfunding platforms, the number of funds accumulated through crowdfunding, and the number of financial resources obtained through a single crowdfunding platform on the time factor. Most models have confirmed their adequacy, as evidenced by the corresponding indicators of each regression model: the Fisher criterion and the coefficient of determination. The development of various regressive models allows evaluating the current state and future prospects of crowdfunding activities. 7. To highlight the features of a crowdfunding, there was conducted a survey of domestic employees and residents of startup incubators, business accelerators and coworking associations, including Unit.city, ITEA Hub, 135