> What mechanisms would be in place to allow me to transfer money from my KYC bank account to an anonymous wallet without it being tracked?
I really doubt that they intend do use it, but zero-knowledge cryptography indeed can accomplish this, so there is no technical limitation afaik.
> If the max is €3000 but it's entirely private, how could they possibly know I don't have a higher balance or multiple wallets?
This gets trickier. Let's say we limit to 3000 per account (and use whatever else to limit accounts/person). This would be possible, but would also reveal the amount on the account: try to send decreasing amounts, first one that succeeds reveals previous balance. There's probably an entity that can simulate sending too.
> What tech is even being used to allow fully private, offline transactions in the first place? How does the receiver verify that the digital cash is legit? And how does the network ensure that the money wasn't double spent while offline?
> I really doubt that they intend do use it, but zero-knowledge cryptography indeed can accomplish this, so there is no technical limitation afaik.
It's really hard to say without details of how the proposed system would actually work, but I don't think they can get away from KYC laws.
They'd still have the on ramp / off ramp problem of existing cryptocurrencies, my bank would know how much I transferred and some unique identifier of either my wallet or the transaction. Assuming that offline transactions aren't possible, the network would also know every transaction made and could link that back to my original bank deposit.
I really doubt that they intend do use it, but zero-knowledge cryptography indeed can accomplish this, so there is no technical limitation afaik.
> If the max is €3000 but it's entirely private, how could they possibly know I don't have a higher balance or multiple wallets?
This gets trickier. Let's say we limit to 3000 per account (and use whatever else to limit accounts/person). This would be possible, but would also reveal the amount on the account: try to send decreasing amounts, first one that succeeds reveals previous balance. There's probably an entity that can simulate sending too.
> What tech is even being used to allow fully private, offline transactions in the first place? How does the receiver verify that the digital cash is legit? And how does the network ensure that the money wasn't double spent while offline?
Yeah, this one is impossible.