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

The communication function of crowdfunding is based on facilitating communication between project authors and investors or contributors. The market analysis function or marketing function allows you to search for like-minded people and create a team, which allows you to get important information for the project. This function can also be noticed during the promotion of ideas and projects, their authors, and investors among Internet users. The aspects of crowdfunding analyzed above allow us to draw attention to the innovation and relevance of certain ideas, which can become the basis for their appropriate financial support ( Ⱦɢɛɚ et al., 2015). Canadian researcher A. Agrawal, along with its colleagues, began analyzing the phenomenon of crowdfunding in 2011. The main objective of their research was to identify trends and dependencies in the local (national) and international application of crowdfunding. Scientists describe various funding schemes due to the different distances between project developers and their contributors. Researchers believe that on local crowdfunding platforms, participants analyze less information about the total amount of accumulated funds, but on international platforms this aspect is important: the faster the project begins to accumulate funds, the more contributors are willing to support it financially (Agrawal et al., 2011; 2015). We should agree with this statement of scientists and focus on the fact that the indicators of the number of funds collected for projects that provide financial remuneration are particularly important because participants are guided by the majority opinion, they are growing confidence in such projects and they support them with their own funds. American scientists B. Bayus and V. Kuppuswamy analyze the features and differences between the four main types of crowdfunding platforms. Besides, they research the prospects of crowdfunding projects, that could get the necessary amount of funds for their implementation, and the factors that lead to the long-term success of such crowdfunding projects (Bayus, 2013; Kuppuswamy et al., 2015, 2016). Works of E. Gerber, J. Hui, and P. Kuo focus mainly on the reasons and incentives for people to participate in crowdfunding campaigns, both the project founders and those who finance such projects (Gerber et al., 2012). American scientists R. Koning and J. Model investigated the impact of the duration of the crowdfunding project, and the size and time of the first payment on the probability of successful completion of the crowdfunding campaign (Koning et al., 2013). 16