I have some 2% Lugol's iodine. I would like a decolorized version without having to buy it. I've read about two different ways to decolorize it.

1. Add a solution of baking soda and H2O2 to the iodine.

2. Burning a matchstick above a solution of iodine. The sulphur content changes causes it to clear.

I want to know if, by decolorizing the iodine, it changes the chemical composition so that it is no longer effective.

Thanks.