I propose a new vendor. This vendor should be a blueprint vendor. How it would work is if you got any piece of armor bellow an exotic (since they already have blueprints) and he would destroy the armor but create a blue print for it. Said blue print could be stored in another kiosk such as the ones for exotic weapons and if you ever wanted that piece of armor back you could pay for it in the same way you pay for exotic blue prints.
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Blueprints could be stored in a library like the one proposed here: https://www.bungie.net/en/Forum/Post/162142479/0/0