Corrency - Together we support the local economy

How does Corrency work?

Financial support can be provided by the state, town hall, company or individual

Corrents are generated from financial contributions in CZK.

Corrent is an accounting unit with adjustable convertibility

It motivates the recipient of the support to purchase the necessary commodities and thus to further support merchants.

Features of Corrents:

defined expiration (e.g. 30 days)
valid for a specific location (e.g. the city of Kyjov)
citizen participation in the purchase (e.g. 50%)
designated areas of use (e.g. food, culture, health, etc.)

Receivers of support

Recipients of support can be selected groups of citizens who meet the conditions determined by the town hall or another system founder.

Paying with Corrents for services and products

Corrent holders can pay 50% of the total price of the service or products at a vendor.

Merchants

Local merchants and service providers who meet the parameters set by the founder can join the Corrency system.

Completed projects

Kyjov

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 →

Prague 1

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 →

Prague 18

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 →

VŠE

Supporting students and faculty members at vendors as part of Innovation Week.

More information →

They said about Corrency

"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