Which one of the following words/phrases is most appropriately used to denote "an interoperable network of 3D virtual worlds that can be accessed simultaneously by millions of users, who can exert property rights over virtual items"?

Metaverse. WEF quotes Matthew Ball describing the metaverse as a massively scaled and interoperable network of real-time rendered 3D virtual worlds. Gartner calls it a persistent and immersive digital environment of interconnected networks. Meta says NFTs are well positioned to establish ownership of digital objects in the metaverse. That fits the stem's property rights over virtual items. The sources do not describe big data analytics or cryptography as a network of 3D virtual worlds.

According to WIRED, who coined the term Web3 (originally Web 3.0), and in which year?

Gavin Wood, 2014. WIRED reports that Gavin Wood coined the term Web3, originally Web 3.0, in 2014. ethereum.org agrees on 2014. It says Wood coined it shortly after Ethereum launched. The 1989 date is when Tim Berners-Lee was developing the protocols of the World Wide Web. The 2002 and 2010 dates belong to the digital twin story.

Which feature, according to IBM, separates a digital twin from a static 3D model?

Real-time, two-way data exchange between the object and its virtual replica. IBM says a key feature of a digital twin is real-time, two-way data exchange between the object and its virtual replica. IBM calls 3D models static representations at a single point in time. It also says simulations are static and run predefined scenarios. A 2012 NASA paper likewise describes a twin that uses sensor updates to mirror its flying twin.

According to a NASA slide of October 2022, who introduced the Digital Twin to NASA in a 2010 Technology Roadmap?

John Vickers. The NASA slide says the Digital Twin was introduced to NASA by John Vickers in a 2010 Technology Roadmap. IBM says Vickers officially coined the term in a NASA technical roadmap. The same slide credits Michael Grieves and colleagues with the concept in 2002, at a Society of Manufacturing Engineers conference. Gavin Wood is linked to Web3 and Matthew Ball to a metaverse definition.

What does the word non-fungible mean when it is applied to an NFT?

Individually unique, not interchangeable with an identical item. ethereum.org says NFTs are tokens that are individually unique. Each NFT has different properties and is provably scarce. IBM says an asset is fungible when it is mutually interchangeable with another identical item, and NFTs invert that idea. ethereum.org contrasts NFTs with tokens like USDC, where every token is identical.

Budget Speech 2022-23 proposed what rate of tax on income from the transfer of any virtual digital asset?

30 per cent. Paragraph 131 of the Budget Speech says income from transfer of any virtual digital asset shall be taxed at the rate of 30 per cent. PIB's Budget highlights repeat this. The 1 per cent figure is the rate of TDS on payment for the transfer, above a monetary threshold. It is not the tax rate on the income.

In a 2023 Lok Sabha reply published by PIB, how was Web3 described?

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In a 2023 Lok Sabha reply published by PIB, how was Web3 described?

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