It all boils down to a pre-paid charge card maintained in e-gold. Virtual or plastic, a way to transfer from your e-gold account into a no-name e-goldcoin(C) account. When doing the transfer, you select a PIN. The PIN together with the batch number form the basis of a hash that is used to spend the funds on the card/account. The hash is then used to produce 25 transaction authorization numbers which only you know about. When you pay the soda, you enter one of those numbers, which is good for ONE transaction - the one you bought the soda with. When you run out of numbers, you use the last in the list to get 25 new ones. As simple as that.
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