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

implementation of a crowdfunding project, the process of evaluating it, diagnosing crowdfunding activities in general, etc.). Based on these studies and in order to develop the theoretical basis and analytical tools of the research, the existing typology of crowdfunding is systematized and new features of the typology and, accordingly, new types of crowdfunding projects are identified. 3. It was found that the existence and development of crowdfunding are influenced by a significant number of factors. As a result, the typology of crowdfunding factors has been developed and their influence on global crowdfunding trends has been studied. The main analyzed factors affecting crowdfunding activities are divided into two groups: general (economic) and special (social) factors. General factors include the banking system, the development of the market of payment cards and electronic systems, income levels, shadowing the financial sector, entrepreneurial activity, availability of credit products for entrepreneurs and young enterprises. Special factors include the presence of the middle class in the country, the state of public confidence in the innovative socio-economic tools, the tendency of the population to do savings, the presence of motivation of the population to do micro-investments, financial and technical literacy of citizens, etc. 4. Since it is proved that not only financial interest can stimulate both contributors and recipients of crowdfunding activities, the basis of their motives for participation in crowdfunding projects is highlighted (material, spiritual and social for contributors, as well as confidence-building in the project, analysis of the potential market and creation of a client base — for the project authors). 5. Given the fact that crowdfunding is considered by some scientists and practitioners in the context of common financing tools, often referred to as venture capital or compared with financing by «business angels», the authors investigated and justified the differences, advantages, and disadvantages between these three methods of providing the necessary amount of financial resources for the implementation of projects, including reengineering. The key advantages of using crowdfunding as a financing tool are: a significant amount of funding; the ability to assess the potential of a newly created enterprise; free analysis and the ability to improve the potential product by consumers; creating a client base; low cost of capital raised; easy registration of the project; the recipient remains the business owner and the only one who controls the project in all cases, except for crowdinvesting. 48