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

Due to the development of the Internet, the penetration of social media into the market allows us to use the trends in the development of crowdfunding technologies. Most often, social media are used to expand information about crowdfunding campaigns. According to the Global Digital Report (Kemp, 2018), the number of social media users worldwide in 2018 was more than 3 billion people, which is 13% more than in the previous year, and the number of mobile phone users in 2018 was more than 5 billion people, which is 4% more than in 2017. These indicators continue to grow annually, especially in such a category as the share of active mobile social users: it was 39% in 2018, which is 5% more than in 2017. Saudi Arabia has the largest annual growth in social media users since January 2017 (32%), which is 17% more than the global average. Other countries with the highest growth in social media use include India, Indonesia, and Ghana. Obviously, technology is improving, and as a result, social media is becoming accessible to the majority of the population. The lowest growth rate can be seen in South Korea, the United Arab Emirates, and the United Kingdom, all of which accounted for less than 5% in 2018 (Chaffey, 2019). The prevalence of smartphones and other gadgets is related to the development of the Internet network. For example, according to the results of the Global Digital Report (Kemp, 2018), the share of web traffic carried out using mobile phones was 52% in 2018, which is 4% more than in 2017, while the number of Internet requests made using desktop computers remains in second place with only 43% of all requests made in 2018. On international platforms, the «contributors» and «recipients» of the project are people from different countries, or even from different continents. According to representatives of the World Bank, building trust is key to implementing crowdfunding operations (Kemp, 2018). «Money is a trust that lives and dies only in human hearts and minds. Monetary systems ... consist of mechanisms and symbols whose task is to preserve this trust» ( Ʌɢɟɬɚɪ , 2007). However, it should be noted that «trust» is not a scientific category. They started using this term when they felt how fragile and complex is the relationship between the individual and the monetary sign, as well as between the structures and people representing them. Effective cooperation is not possible when there is no trust between the parties or other economic ways to replace it (signing contracts, risk insurance, etc.) ( Ʌɢɟɬɚɪ , 2007; ɍɝɨɥɶɤɨɜɚ , 2017c). Unfortunately, as the rich history of financial and monetary relations shows, when this trust is destroyed, it brings the destruction to monetary 32