How to Store Transaction Logs on Blockchain?
I currently have a prepaid wallet in Latin America. Until now we are working as a centralized alternative for SMS / App Micro-Payments. Users need to make a deposit to our bank accounts, and in a few minutes they will be able to use it and transfer it to another user. So far I have met with BlockChain technology.
And instead I would like to save the user transaction data so that they create a wallet account (sha-256); And log transactions in such a way that users do not deposit their money into our bank accounts, but instead load money at authorized institutions. But handle your local currency. There is no interest in working with other currencies. This way, users can keep their money in their wallet in local currency. Thus, the money that is digitized is transferred to their wallet. but exists in real life. By that I mean money is being digitalized as someone buys this digital currency exchange. so there is no money digitally, but only for transactions.
My programming knowledge: Redis Python Django PostgreSQL
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It looks like you want to make your own coin . Since your users are already used to trusting your service with their money and are already used to currency, this is a smart business goal.
Your company can issue a stablecoin very easily. If you would like to do this on Ethereum, the simplest possible ERC-20 coin will do . If you want to do it on Bitcoin, you can use the Omni protocol , as Tether does.
Whichever tech stack you choose, you will need to establish strict accounting rules for issuing and redeeming your stablecoins, and letting users know they still trust you with their money. In addition, for this system to have any meaning beyond the gut feel, you need to integrate the appropriate wallet software into the client application (i.e. make your application an ERC-20 and / or Omni wallet).
Finally, since you are dealing with paper money, I warn you that your bank may not agree with this stablecoin. Talk to them first.
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