Delivery of the underlying metal is done by “cancelling” the token using the Tiberius Coin app or website. Simple instructions, which are secured using the blockchain, instruct Tiberius to make delivery of the metal.
The token will also be removed from circulation as it is no longer collateralised (hence “cancelled”). The former holder of the token will now be entitled to receive the physical material but has forgone ownership of the token.
This entire process is decentralised using smart contracts. Each token that is cancelled decreases the total number of circulating tokens.