Business Processes Modelling of Crowdinvesting Platforms Based on Assets’ Tokenization

Abstract

The rapid development of digital platforms, the formation of new business models of interaction between the economics agents, as well as the problem of increasing the efficiency of resources have generated the need to develop new approaches to the exchange of resources using modern digitalization opportunities. The purpose of our study is to develop models of business processes for the exchange of financial resources on crowdinvesting platforms using tokenization. The research subject is the economic relations between transactions on crowdinvesting platforms participants. The authors proposed a typology of business processes of crowdinvesting platforms, taking into account the type of transaction scenario (credit (closed) and speculative (opened)), which allows grouping the processes of exchange of financial assets allocated by the Cambridge Center for Alternative Finance. In addition, traditional models of financial assets exchange on a crowdinvesting platform are described. We proposed models of the exchange of financial assets on a crowdinvesting platform considering the tokenization process. Also, we substantiated that the tokenization will significantly increase the liquidity of over-the-counter securities, shares of non-public joint-stock companies, investments in real estate construction projects. The theoretical significance of the results obtained lies in expanding the theoretical and methodological basis for the development of the sharing economy in the financial area. The practical relevance of the proposed model is in the possibility of its application in improving the processes of exchanging financial resources on crowdinvesting platforms.