Cut corn from the uncooked cob and set aside.
Remove casing from the Chorizo. Heat olive oil in a large skillet. Scramble fry the chorizo, breaking apart until cooked through, 4-5 minutes.
Place the cooked Chorizo in a fine mesh strainer over a small dish. Press down with the back of a spoon to extract any Chorizo infused oil. There should be about 2 TBSP of chorizo oil.
Drizzle 1 TBSP back into the Chorizo skillet and in another skillet, drizzle the remaining TBSP. The second skillet is the one the scallops will be sauteed in.
Return chorizo to skillet and add corn. Stir and let cook over medium heat for 5 minutes. Then turn heat off, add jalapeno and chives. Stir and let cool for 5 more minutes.
Just before starting the scallops, add the buttermilk to the corn ragu and warm over low heat.
Next heat infused chorizo oil in scallop skillet and add scallops. Cook scallops on medium high heat for 2 minutes, flip and cook another 2 minutes. Add 1 TBSP butter to pan and baste scallops with butter for 1 – 2 more minutes. Turn off heat.
Stir basil into corn and place in serving dish. Squeeze ½ lime juice over corn.
Place scallops on corn and drizzle with any remaining butter/oil.
Serve immediately with lime wedges.