Using blockchain for transactions other than buying and selling cryptocurrencies

[Rakhee]

I am a new entry to the world of crypto-currency and blockchain and I need to do POC on below requirement:

Can some one help me with below queries:

Need to develop a wallet based mobile app.

This app will on-board registered user's money to wallet using below financial methods like

• Direct deposit
• Check image deposit ( user will authorize app provider to encash check deposit in his account and specified money will be credited to his wallet. its useful for those users who don't have their bank accounts)


We have a new requirement where client wants to store  transaction on distributed ledger happening in app.

Requirement is we need all  financial transactions possible to  be facilitated via the blockchain.
and then use these  blockchain entries to  mint and redeem stable coins.

My understanding is blockchain can be used for transactions related to buying and selling of crypto currencies.

Can anyone help me understand that if this requirement is feasible ?
If yes , can provide some pointers that can help me to implement this POC


Regards

[NeuroticFish]

My understanding is blockchain can be used for transactions related to buying and selling of crypto currencies.

A blockchain is a special database, where all the new info is added in blocks to the end.
You cannot alter anything old, but you can move it to a new state.
So the blockchain can "record" when money got into system, and where/when parts of the money was spent, maybe also on "what".

[macdevil007]

Blockchain and Trading Market for Crypto is different

Blockchain is a technology where data or records in a decentralized distributed network. Process and update the records by majority who holds it ( consensus )
Trading Market for Crypto is a Platform (Decentralized or Centralized exchange) where all kind of coins, tokens and assets can fund using your exchange wallet.

[Bitcoin_Arena]

This Board has some individuals who can help you out with your queries very well. If you feel have not got enough from here, you can just go to the bottom left of your and move the topic there.

What is POC thou? Sorry for my ignorance.

[NeuroticFish]

What is POC thou? Sorry for my ignorance.

Proof of Concept