Is it permissible to discard paper containing the name of Allah or the name of the Prophet, peace and blessings be upon him, after covering these names with a dark color that prevents them from appearing?

It is permissible to dispose of papers containing the name of Allah or the name of the Messenger (peace be upon him) or something from the Qur'an after effacing and obliterating them so that they are no longer visible, or after burning them.