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

Ukrainian scientists have also studied crowdfunding. I. Kosulia considers crowdsourcing and crowdfunding as «a new type of collective behavior» ( Ʉɨɫɭɥɹ , 2014). O. Marchenko ( Ɇɚɪɱɟɧɤɨ , 2013, 2014) and L. Shvets (Shvets, 2013) researched the conditions and principles of crowdfunding implementation in Ukraine. Yu. Petrushenko and O. Dudkin aimed to determine the advantages of crowdfunding over traditional financing methods. The authors note in their article that «modern attempts to give a complete definition of crowdfunding are premature since the content of this concept covers not only many current opportunities, but also ways to use collective finance in areas that will arise in the future» ( ɉɟɬɪɭɲɟɧɤɨ et al., 2014). Works of O. Dlugopolskyy dedicated to the analysis of the process of development and interaction of collective ways of financing and infor- mation technologies ( Ⱦɥɭɝɨɩɨɥɶɫɶɤɢɣ , 2011; 2012). Thus, various aspects and components of the concept of «crowdfunding» are considered in the works of different scientists, but it is necessary to perform a comprehensive study of this concept with an emphasis on its state regulation because this issue is not fully studied in the scientific materials researched. From our point of view, the concept of «crowdfunding» should be understood as an innovative tool that allows accumulating financial resources from a large number of participants for the implementation of innovative, social and business projects, including reengineering, with the use of specialized Internet resources for a certain financial, material or non-material reward. Research works of scientists and practitioners show that such a tool as crowdfunding has a significant number of advantages and can compete with traditional forms of financing various reengineering projects due to the ability to receive funds without guarantees, quickly and without obligation to return funds. The main advantages of crowdfunding as a method of financial support for the implementation of projects, including reengineering, are the following: ڰ opportunity to get a large amount of funding: international crowdfunding platforms have a considerable number of benefactors. Besides, such platforms actively promote their activities in society through social networks and media, thus a significant number of contributors can join the project, and the number of funds collected can significantly exceed the financial needs indicated at the beginning, sometimes it is 200–250% of the specified amount; 18