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

business and social projects ( ɍɝɨɥɶɤɨɜɚ , 2017a). The key participants in the crowdfunding system are (Fig 1.4): ڰ project authors or recipients are individuals who need a certain amount of financial resources to implement a project that aims to provide a service, create a product, or implement an event; ڰ mployees of a crowdfunding platform or mediator, i.e. those responsible for the operation of the crowdfunding platform; ڰ project contributors — individuals who want to support a specific project; ڰ state — performs regulatory activities and taxes the income of participants in crowdfunding activities. Fig 1.4. Participants in the crowdfunding process Note: formed by the authors The term «investor» is often used in the literature and scientific research in the context of crowdfunding projects, however, in our opinion, this identification is not correct. The person who supports the project may have other motives for such behavior, not only the desire to get financial benefits. The motives for this behavior are different, but in general, we can distinguish the following (Fig 1.5): 1. Financial interest — in this case, the contributor receives a financial reward for their contribution, and then crowdfunding becomes similar to investing. This motive prevails in countries such as the United Kingdom, Remuneration and Commission Remuneration Recipients Crowdfunding platform Contributors Costs Costs State Taxes Taxes Taxes 36