Corrency is a system to support the local economy. It allows town halls to set clear and simple rules for the efficient and transparent use of funds intended for residents or selected areas of business.
Corrents are generated from financial contributions in CZK.
It motivates the recipient of the support to purchase the necessary commodities and thus to further support merchants.
Features of Corrents:
Recipients of support can be selected groups of citizens who meet the conditions determined by the town hall or another system founder.
Corrent holders can pay 50% of the total price of the service or products at a vendor.
Local merchants and service providers who meet the parameters set by the founder can join the Corrency system.
Inflation, the refugee crisis, the energy crisis. According to František Lukl, chairman of the Union of Towns and Municipalities of the Czech Republic, all this is currently affecting municipal budgets. In addition, they are still trying to spin the wheels of their regional economies and support local merchants, recommends the Corrency tool.read more →
Jumpstarting the local economy after Covid restrictions in Kyjov, a Moravian city in the countryside, with a focus on supporting local winery and hospitality vendors.More information →
Supporting the citizens of Prague 1 with the increasing cost of living in the tourist center and helping local merchants after the drastic decrease in tourist visits during the pandemic.More information →
A healthier lifestyle for the citizens of Prague 18 with a focus on leisure activities, a healthy diet and support for sports venues affected by rising energy costs.More information →
"We have decided to offer corrent support to all residents of Kyjov. I believe that this modern economic project has a great potential and it may support business not only in our town. It is a matter of time before other cities get involved."
Mgr. František Lukl, MPA, Czech politician, former Minister for Regional Development, President of the Union of Towns and Municipalities of the Czech Republic
“Corrency is a perfect example of how a hackathon project can continue its successful development and support local economy and regional development. The fact that the project has a promising future is proven by it being ranked among the top 15 of more than two hundred projects in the hackathon.”
Ing. Patrik Reichl, MBA, Director of the Business and Investment Development Agency CzechInvest
"I am glad we could have contributed to the creation of this project. Without the support of the Ministry of Industry and Trade and its Czech Rise Up program, such a pioneer and innovative project could have risen only in limited conditions. We are looking forward to seeing how this pilot develops. We believe that this concept will work. Its comprehensive solution offers much wider application in other economic and social issues."
Ing. Petr Očko, Ph.D., Ministry of Industry and Trade Deputy Minister for Digitisation and Innovation