When they make a purchase under the scheme, participants pay for half of it with corrents and the other half with their own money. The Czech Credite gratuite de bitcoin, which has a population of Restrictions kept most non-essential shops closed from late December until this week.
The Kyjov scheme is being funded to the tune ofcrowns by a private individual who does not wish to be named, bitcoin mining booster administered by Pepe Rafaj, who came up with the idea. Rafaj refers to the corrents as "drone money", as a way of comparing it to the much-discussed concept of "helicopter money", the idea that central banks could transfer cash directly to citizens as a form of monetary easing.
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The scheme is low-tech for consumers. They register online for a corrents account. When they make a purchase, all they need to do is either give their national ID card number to the business, or use a code delivered via a text message.
The business then sends a text message to the system, which automatically transfers the relevant quantity of corrents from the customer's account to its own account. The business then get the corrents converted into crowns, usually the next day. The country's central bank classifies the Kyjov scheme as a local system of electronic discount vouchers, and therefore not a matter of concern for the monetary authority.
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The mayor of Kyjov, Franisek Lukl, said he hoped the bitcoin mining booster could be expanded to other parts of the Czech Republic, perhaps using money from the European Union's post-pandemic recovery funds.
He said he planned to discuss this with the minister for labour next week.
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Pensioner Jarmila Perglova joined the scheme but had yet to spend her corrents.