Interups Inc (ITUP)

[MaterialMind]

I have a general question about the utility tokens... They're supposed to be burnt upon delivery, right? Is that even possible, to burn tokens in someone else's wallet? And, for example, if they are now issuing utility tokens and putting in our wallets as a collateral, that I understand are meant to be burnt and replaced with cash if available on or before March 15th (?). How does that work? I guess we'll see. I just wonder about the technical stuff, since I'm new to crypto. I really don't understand how it will work, as a wallet is supposed to only be accessible with the private key. Maybe there is some kind of process of signing an agreement for the exchange, as Ethereum is some kind of contract?

Crypto wallets cannot hold cash, right? So there must be a link to a bank account somehow as well. Or will the exchange be for an equivalent value in Bitcoin/Ethereum?