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

allow civil servants to develop practical recommendations aimed at improving the state of crowdfunding. 10. The concept of «state regulation of crowdfunding activities» was improved, which differs from the existing ones because it covers the process of implementing the managerial influence of state authorities on the development of crowdfunding activities in order to ensure the development of the national economy by attracting unused potential savings of the population and the development of crowdfunding infrastructure. The subjects of state regulation include both bodies of state and local governments and initiated by the state non-commercial organization. The main tasks for state and local authorities in this context are: providing favorable conditions for the creation and effective functioning of crowdfunding systems, regulatory support for crowdfunding activities, and the development of the necessary infrastructure. The main tasks of non-profit organizations created on the initiative of the state are: to provide a variety of services to solve problems that investors and contributors may face; to inform about the advantages and disadvantages of maintaining a certain type of crowdfunding projects; to teach how to invest wisely and avoid fraud; to answer questions, complaints, and suggestions from the public; to implement educational projects for investors and contributors of crowdfunding projects. 11. The tools for evaluating crowdfunding systems in conditions of reengineering by Central and local authorities are improved, providing for the use of structure-forming absolute and relative indicators. The absolute indicators include the total amount of financial resources accumulated through crowdfunding; the average amount of financial resources accumulated through a single crowdfunding project. The relative ones include the share of crowdfunding activity contribution to the gross domestic product; the share of the number of participants in crowdfunding activities in the total number of the economically active population; the share of crowdfunding activity contribution to economic activity state; an indicator of the financial feasibility of using crowdfunding, the average amount of financial resources accumulated through a single crowdfunding project. The proposed indicators can be used to assess the state and dynamics of crowdfunding activities both at the regional or national level and at the global level. 137