Generally it's possible to convert resources into something more complex (at the code level it's just add/remove cargo depending on blueprint). The only problem for now is how user will interact with craft system - console commands etc.
My idea:
To craft an item you should have it's blueprint and required components in your cargo hold.
Each blueprint will have an ID code that will be added to the infocard (Advanced Neutron Cannon MKII Blueprint "ancmk2").
So you just type:
/craft ancmk2
Ta da!!! Item was placed in your cargo.
or
FAIL!! Resources lost, try again.
or
FAIL! Not enough resources or no blueprint found.