You can pay with corrents for half of your purchase. With each corrent paid, you will pay one Czech crown from your own money. You will thus get a discounted price from the registered merchants. Corrency will help kickstart the local trade and services affected by the pandemic.
The municipality of Kyjov, led by Mayor Frantisek Lukl, has agreed on a collaboration with the Corrency system, which comes with the idea of a special currency: “All citizens can sign up to receive the corrency support. I believe this modern economic project can support business not only in Kyjov and it is only a matter of time before other towns get involved as well,” explains Mayor Lukl, who also chairs the Union of Towns and Municipalities of the Czech Republic, about why Kyjov joined the project.
The first news about Corrency travelled the world. “We have received positive reactions from France, Singapore and the Philippines. Even in the Czech Republic, we can come up with an idea that will help people and merchants around the world. We would like to offer it at home and in Europe," explains Pepe Rafaj, the project co-creator. “Firstly, we have to verify the functionality and efficiency of the system in Kyjov and we are grateful to Mayor František Lukl for placing his trust in us and for going into the project with us.”
The Project Starts on April 26 and Lasts Until May 25
The planned launch of the 30-day pilot was postponed by almost four months due to the lockdown of the Czech economy. The creators have now decided to launch the project despite the unresolved covid situation: “Our priority is to launch the project as soon as possible so that we can start helping in other towns as well. As soon as it is possible, we will be glad if the project is joined by merchants and service providers in Kyjov who unfortunately cannot conduct business yet,” says the author of the Corrency idea, Pepe Rafaj.
How Corrency Works
The principle of Corrency is that people receive a targeted subsidy, which they can use at their favourite merchants during the month. They choose who they want to support, and by paying at these merchants they will support the whole region.
Half of the purchase is paid with corrents and the other half with their own money. In this way, money circulates quickly in Kyjov’s economy, and thanks to the participation of citizens, the volume of money in circulation multiplies. As a result, the potential for the renewal of local trade will be many times greater and faster.
The Citizens of Kyjov Will Receive an Allowance of 400 Corrents
All citizens with permanent residence in Kyjov and older than 18 years can register in the project until the capacity of 2,000 citizens is filled. The company I, Foundation has donated CZK 800,000 to Kyjov. The registered people will receive an allowance of 400 corrents, which they will be able to use at registered merchants who operate their business in Kyjov.
Since December, 1,000 citizens and more than forty Kyjov merchants have signed up for the project. The registration will continue also after the start of the pilot. Those interested to receive corrents can register at kyjov.corrency.cz, at the town hall filing office or at the Kyjov Infocentre.
You Can Use Corrents at 40 Merchants
40 local merchants have signed up for the project, ranging from pastry shops, groceries, pharmacies, several cafés, restaurants, stationery shops, through haberdasher’s shops, car-repair shops, driving schools, to the Cultural Centre Kyjov and various service providers, including hairdressers and masseurs. “Most merchants have had to adapt to the current rules. We will inform you in detail about all of the open merchants and the sales opportunities they offer through our website and social networks of Corrency and the Kyjov town hall,” adds Rafaj.
The Citizens of Kyjov Can Use Just Their ID or an SMS to Pay with the Corrents
Neither citizens nor merchants have to fear paying with corrents. When paying, they can prove their identity with their ID or pay with the code they receive from us via an SMS. They do not need a smartphone nor internet access to pay. Merchants will only need to verify the payment by an SMS or by filling out a simple online form. “We intended to make the system as simple as possible so that everyone could access it,” explains Pepe Rafaj.
The Corrency project succeeded in the Hack the Crisis hackathon announced by the CzechInvest agency and the Ministry of Industry and Trade of the Czech Republic (MIT). It has obtained funds for the implementation of a pilot project from MIT’s subsidy program Czech Rise Up targeted at smart measures against COVID 19. It has been sponsored by the Association of Small and Medium-Sized Enterprises and Crafts of the Czech Republic, the Czech Chamber of Commerce and the Ministry of the Interior of the Czech Republic.
Register To Receive Your Allowance
Do not hesitate and register to get your allowance. You can get more information at www.kyjov.corrency.cz, at the town hall filing office or at the Kyjov Infocentre in Svatoborská Street.