Mondex digicash system

[Mike Ingle <MIKEINGLE@delphi.com>]

Are there any technical details as to how it works?

It is supposedly anonymous, divisible, transferrable, and offline. I've
never seen a practical protocol like this. The message said you could put
cards in an electronic wallet and transfer money between them. How can you
do this, without losing anonymity? Is it possible this system is security
through obscurity or observer-based, as opposed to a pure cryptographic
protocol? If the security is non-cryptographic, it will probably be hacked
eventually.