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

number of private savings directly affects the level of investment in the state (Statista; ɍɝɨɥɶɤɨɜɚ , Ɏɟɳɭɪ , Ʉɭɡɶɦɿɧ and ɋɤɢɛɿɧɫɶɤɢɣ , 2017). Every year, new platforms are created in France, which promotes healthy competition and innovation development. French platforms are characterized by a high level of specialization. An important part of the crowdfunding market is equity crowdfunding, with the following platforms as market leaders: ڰ Wiseed.fr ڰ Smartangels.fr ڰ Anaxago.com ڰ Participeep.com ڰ Happycapital.com Wiseed.fr platform was the first company on the French market and today it is the leader in terms of operations. Unlike traditional crowdfunding platforms, it receives its main income not from the redistribution of funds (not from deductions from raised funds), but the creation of goods (housing units). From the number of crowdfunding platforms that are developing rapidly, it is advisable to single out the platform Lymo.fr, which specializes in real estate and has several advantages over technology startups, in particular, it is more understandable for most investors and attracts them with its predictability. Six months after the launch of the platform, Lymo.fr accumulated over 500 thousand euros from 140 investors. Since 2013, the volume of crowdfunding in France has doubled annually (Fig 2.7). Crowdfunding based on a gift, namely without any remuneration or for non-financial remuneration, accounts for 80% of all funds raised in some years in this country. France is one of the few developed countries where the share of crowdfunding operations with non-financial remuneration is quite high (Fig 2.8). Usually, the developing countries are characterized by this trend. France is also distinguished by its support for all national and regional issues, as exemplified by the French platform Kisskissbankbank. It is the leader of the French market and encourages the implementation of creative projects and projects related to innovation and entrepreneurship. As of January 2019, more than 1.5 million contributors were registered on this platform and raised €93 676 110. 66