How to store transaction Logs on Blockchain?

Question

Currently I've a Prepaid Wallet in Latin America. So far we work as a centralized alternative for SMS/App Micro-Payments. Users needs to make a deposit to our bank accounts and minutes later they can use it and transfer it to another user. So far I've encountered with the BlockChain technology.

And I would like instead for storing the data of user transactions let them create a wallet (sha-256) account; And log transactions this way users wont deposit their money to our bank accounts but load money on authorized establishments. But handle their local currency. No interest on working with other currencies. So this users can store their money on their wallet in their local currency. So money that is digitalized is carried on their wallet. but exists in real life. By this I mean.. that money gets digitalized as someone buys this digital currency exchange. so no money exists in digital but only for transaction.

My Knowledge in programming is: Redis Python Django PostgreSQL

Answer 1

Sounds like you want to make your own stablecoin . Since your users are already used to trusting your service with their money, and are already used to the currency, this is a reasonable business goal.

Your company can issue a stablecoin very easily. If you wanted to do it on Ethereum, the simplest possible ERC-20 coin would suffice. If you wanted to do it on Bitcoin, you could use the Omni protocol, like Tether does.

Whatever technical stack you choose, you'll have to set strict accounting rules for issuing and redeeming your stablecoins, and let users know that they're still trusting you with their money. Also, for this system to have any meaning beyond internal feelings, you'll need to integrate the appropriate wallet software into the client app (ie make your app an ERC-20 and/or Omni wallet).

Finally, since you're dealing with fiat money, I'll warn you that your bank may not be OK with this stablecoin. Talk to them first.