Factors of crowdfunding development in the digital economy

In this article, the author examines the reasons that affect the development of crowdfunding. The author provides statistical information showing the steady growth of the crowdfunding market. Such factors of its development as the emergence and expansion of a single financial space, an increase in the level of awareness of potential market participants, an increase in the number of participants in digital ecosystems, the development of such artificial intelligence technologies, Big Data and blockchain technologies are considered. The author notes that traditional financial institutions have serious competitive advantages over crowdfunding platforms and describes the conditions under which the latter can successfully develop. The article indicates that the most important condition is access to information about the non-financial behavior of subjects, which is accumulated by various digital ecosystems. In conclusion, the author briefly describes the models of access to information about the behavior of borrowers.