To make the corn stock: In a medium pot, combine the corn cobs and 12 cups of water. Bring to a boil over high heat for 15 minutes, or until the liquid is reduced by half. Discard the cobs.
While the corn stock is reducing, cook the bacon in a large Dutch oven or heavy-bottomed pot over medium heat for 10 minutes, or until it’s crispy. Transfer the bacon to a paper towel-lined plate to drain, reserving the fat in the pot for the next step.
Add the butter and onions to the pot, and sauté until translucent, about 3 to 5 minutes.
Add the potato, garlic, shallot, and corn kernels, stirring to combine — make sure to scrape up and incorporate all the crispy bits from the bacon. Sauté for 2 to 3 minutes.
Add the white wine and simmer for 3 to 5 minutes, or until the wine is almost completely evaporated.
Remove 2 cups of the sautéed vegetables and set aside.
Add the corn stock and cream to the pot, and simmer for 10 minutes, stirring frequently.
Transfer the mixture from the pot to a blender and purée until smooth.
Return the puréed mixture and the reserved vegetables to the pot. Season with salt, pepper, paprika, Tabasco, and chives. Simmer uncovered for 30 minutes.
Serve in soup bowls with a garnish of crème fraîche and chives.