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

participated in projects that are funded in this way, and about one third (36%) have never heard of such platforms (Ugolkova, Kuzmin and Skybinsky, 2016; Ugolkova, 2016; ɍɝɨɥɶɤɨɜɚ , Ɏɟɳɭɪ , Ʉɭɡɶɦɿɧ and ɋɤɢɛɿɧɫɶɤɢɣ , 2017). The volume of crowdfunding operations in the US continues to grow rapidly by an average of 20% annually. In 2015, the volume of such operations amounted to $642 million, in 2016 — $819 million, in 2017 — $959 million. The number of projects registered on crowdfunding platforms also continues to grow: in 2015 — 140,961 projects, in 2016 — 168,486 projects and in 2017, they predicted an increase to 184,905 projects (average growth rate +114.53%) (Ugolkova, Kuzmin and Skybinsky, 2016; Ugolkova, 2016; ɍɝɨɥɶɤɨɜɚ , Ɏɟɳɭɪ , Ʉɭɡɶɦɿɧ and ɋɤɢɛɿɧɫɶɤɢɣ , 2017). In 2013, the American crowdfunding platform EquityNet published a statistical review highlighting the main trends in us equity crowdfunding for the period 2007 — 2013. It is noted that the average amount of financing required for entrepreneurs has significantly decreased from $2.5 million in 2008 ( ɒɜɚɥɶɰ , 2013), up to $800 thousand In 2010 The global financial crisis also affected the average estimated value of companies, which in 2008 was $6 million, and in 2010 it decreased to $3 dollars. Approximately 70% of startups that plan to use equity crowdfunding to raise funds have not had income in the past year, 15% of all startups that need funding are making a profit at the time of placement of the crowdfunding project, and other startups expect to make a profit in the next 3–5 years. In addition, more than half of the companies that rely on equity financing require investments of more than dollars. It is also interesting that a third of all startups using equity crowdfunding already own patents for their inventions and know-how. After the success of the EquityNet crowdfunding platform in 2016, the CFX Markets startup platform was founded in Chicago, which is the first full-fledged exchange platform where participants have the opportunity to buy or sell their own shares in investment projects. At the moment, the Chicago-based company has already signed several contracts with the largest crowdfunding sites in the United States, thanks to which investors who invested in crowdfunding projects and received a part of the startup's shares in return will be able to offer them for trading on the CFX Markets platform. The trading process on this platform is similar to traditional stock trading. For example, owners of shares in crowdfunding startups offer them for auction at a certain price, and potential buyers either agree 62