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

Continuation of table 1.2 1 2 Availability and quality of regulatory framework for financial activities Prevalence of smartphones and other gadgets Innovation infrastructure Population activity in social networks Note: highlighted by the authors It is worth focusing on a more detailed analysis of the proposed factors that affect the emergence and development of crowdfunding activities. Among them, the primary factor is the state of economic development of the country , because it affects all spheres of society and is one of the significant factors of the state growth. This statement is confirmed by the fact that all the countries that occupy the leading positions in the number of crowdfunding platforms belong to developed countries and demonstrate significant volumes of gross domestic product and other macroeconomic indicators (Table 1.3). Table 1.3 Comparative analysis of GDP and crowdfunding activity in the analyzed countries, 2016 ɋ ountry GDP, billions of dollars Place in the world in terms of GDP The volume of crowdfunding activities in millions of dollars Number of crowdfunding platforms the USA 19485 1 35 356 191 Canada 1653 10 270 41 France 2587 7 433 46 Germany 3700 4 325 37 the Great Britain 2628 5 5 829 86 the Netherlands 832 18 172 14 Note: formed by the authors based on (Raghavendra, 2017; Statista; World Bank) The state of the banking system and the market for payment cards and electronic systems is important for the implementation of crowdfunding activities because their proper state ensures the existence of crowdfunding as a tool that functions in the Internet environment. As you know, the only 23