Comment by abdullahkhalids

Do these cards solve the electronic cash problem (in a completely different way than cryptocurrencies)? What I mean is that

- Are the card readers special/trusted issued by bank/govt in some way? Or you can transfer money from one card to another yourself fully offline?

- Is there any requirements that the transfers have to be eventually communicated to the bank by one of the parties to be fully resolved?

- Has someone managed to create fake cards with fake money in it, or this is impossible by design?