For the Hominy Corn:
Using a tammy or sieve, sift the ashes. Moisten the ashes with water to a wet-sand consistency. Cover tightly and allow to ferment for 2 to 3 days at room temperature.
Soak the corn in cold water overnight. Place the moistened ashes in a large pot. Add the corn and enough cool water to cover the corn by about 3 inches, whisking thoroughly to break up the ashes.
Bring the water to a simmer and cook until the corn is tender (when testing the corn for doneness, rinse the kernel very, very well before tasting). Once tender and the hulls are loosened (about 2½ to 3 hours), place the pot in the sink and run cold water over the corn until the water runs clean, rubbing the skins off the corn with your hands.
Place the corn in cool water again and skim off any skins that float to the top. Strain and store in an airtight container.
For the Creamed Hominy:
In a saucepot, render the pancetta slightly. Add the onion and thyme, and sweat until the onions are translucent. Stir in the hominy. Add the cream and adjust the heat to medium-low. Cook the hominy in the cream until very tender (the cream shouldn’t pool in the bottom of the pot when stirred). Season with salt and pepper. Serve immediately.