The purpose of this report is to analyse the nanotechnology and the possibilities of its implementation and its limitation. This report mainly concentrates on the application of the technology in various sectors and finally looks in to the potential risk that the nanotechnology could cause to the environment and economy. The Nanotechnology is relatively recent area ofscientific development and can be defined as “engineering at a very small scale” (Institute of Nanotechnology, 2007). This technology creates opportunity to develop the product that are smaller, cheaper, lighter and faster and these product consume less energy and use less raw materials. This technology is used from simple commercial products to complex scientific products (Institute of Nanotechnology,2007).
2. Technology Overview
The nanotechnology involves physics, chemistry, Biology, material science and the many range of engineering disciplines. The nanotechnology uses both the aspect of science and the technology of the emerging field. This nanotechnology understands the physical, chemical and biological property of the atom and manipulates these properties on a controlledenvironment to create a functional system that have unique capabilities (Picraux, 2009).
The Nanotechnology is the technology where the objects or the products are manufactured with atomic precession exactly atom by atom. This technology has the tremendous potential and it can create new and powerful materials and it can be used as a tool to manipulate objects to any scale. This could involve in theproduction of the more advanced application such as Nanocomputer and Nanodevices that would able to interact with our surroundings (Sandberg, 2000).
3. Application of Nanotechnology
The Nanotechnology has undergone lot of development over the last decade and millions of new product has been introduced in many sectors. The nanotechnology offers platform for creating new feature and functions andbecause of its potential it is been used in all sectors (Institute of Nanotechnology, 2007).
3.1 Nanotechnology in Medical Industry
The Nanotechnology has paved way for the introduction of new and better medical technique. In medical world it’s been stated that earlier the disease detected the faster it can be cured now the Nanotechnology is leading to the faster diagnosis of the disease. In theancient medical way diagnosis of the disease is lengthy and stressful and often it takes
several days to get the results. The nanotechnology has enabled faster way to diagnosis the disease as the technology has paved way to build a single and palm sized device that can deliver the results instantaneously with an accurate pinpointing of the disease even at a very early stage. The accuratetargeting of the disease means that disease site can be targeted and cured with less volume of the drugs (Institute of Nanotechnology, 2007).
3.2 Nanotechnology in Automobile Industry
. The automotive industry and aerospace industry has used this technology to there benefit and they have introduced higher quality and reliable vehicles and planes. Nanotechnology has leaded us to introduction ofimproved eco-friendly batteries and super capacitors which reduces the damage to the environment. The technology has eradicated the use of the toxic chemicals as the solvent with the development of the new Nanocoating and Nano structured surfaces. The deadly substances like chromium and cadmium is used in the anti-corrosion coating. The automobile manufacturer have been looking for an alternative forthis toxic component but the new nanocoating can be used as an alternative for this source which is non-toxic and highly effective. Thus the nanotechnology can be used for the use of the better environment (Institute of Nanotechnology, 2007).
3.3 Nanotechnology in Computer Industry
The computer industry and the electronic industry have pushed the technology to its limit. The circuits and the...