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

Fig 2.19. Trust in crowdfunding technologies Note: formed by the authors based on the results However, the negative fact is that 20% of respondents trust foreign crowdfunding platforms only. This is why state and local authorities should act to promote a crowdfunding and support domestic crowdfunding platforms. Conclusions to section 2 1. Crowdfunding is an innovative socio-economic tool that can become an effective catalyst for entrepreneurship in modern conditions. However, reliable and long-term use of crowdfunding is possible only where there is public confidence in their country and its financial and banking system. Stable and reliable cooperation of crowdfunding participants is possible only if there is a high level of trust between project authors, contributors (or investors), and crowdfunding platforms. All factors in the development of crowdfunding activities are important and complementary. Therefore, crowdfunding activities can get their development in Ukraine only if an adequate regulatory framework is provided, financial and technical literacy of citizens is developed, and support for the formation of a sufficient Trust 11% Trust in foreign crowdfunding platforms only 31% Hard to decide 20% Do not trust 38% 85