The basis of nanotechnology is the ability to see, understand and accurately control and manipulate matter atom by atom and molecule by molecule. This ability unlocks a world of new possibilities where the tools and techniques of nanotechnology become a powerful universal tool kit with the potential to shape and manipulate all matter, living and non-living.

For corporations, nanotechnology opens up a whole new world of possible applications and product opportunities across all sectors of the economy: smaller and faster computers; drugs that permeate the body more effectively and can target specific cells; catalysts (used to speed up chemical reactions, including oil-refining processes) can be made more reactive; sensors can monitor everything with much greater precision; materials can be stronger and lighter.
Nanotechnology is not a single technology. Given the diverse range of applications to which nanotechnology can be put it is more useful to talk of nanotechnology as a technological platform upon which a whole range of nanotechnologies will be based.

Nano-technology has given us the tools to play with the ultimate toy box of nature - atoms and molecules. Everything is made from it... The possibilities to create new things appear limitless
Horst Stormer 1998 Physics Nobel Prize winner

What is happening?
We are in the very early days of the commercial applications of nanotechnology. The majority of what could currently be called commercial nanotechnology involves nano-particles. These are new molecules with novel properties created by fine tuning chemical reactions at the nanoscale. These particles are already incorporated into a wide range of products including paints, cosmetics, tennis rackets, clothing, glass and computers. An example of a new nano- particle is titanium dioxide. At the conventional 'macro' scale a particle of titanium dioxide is white in colour and very good at reflecting UV light. It is widely used as the active ingredient of sunblock. However, if manipulated to form particles only 20 nm wide the properties of titanium dioxide change. It keeps its UV light scattering properties, but turns transparent and provides the basis for making see-through sunblock. Other nano- particles include new forms of carbon. Carbon naturally occurs as either diamond or graphite, but nano-scale manipulations have produced new forms of carbon such as 'bucky balls' and 'nano-tubes' involving new arrangements of carbon atoms. These new carbons have radically changed electrical and strength properties and have a huge number of potential commercial applications.

Where next?
Beyond simple nano-particles what's coming next?

Nano-encapsulation
Food, pharmaceutical and chemical companies, and the military too, are all working on nano-sized capsules containing flavourings, drugs, pesticides or even chemical/biological weapons designed to break open and release their contents only under certain conditions.

Nano-devices
Nano-devices shrink the size of electronic components and eventually electronic devices to the nanoscale. One example is nano-sensors. Already the US defence research agency as well as corporations are using advances in nanotechnology to develop ever smaller wireless sensors capable of monitoring everything from farms to threats to 'homeland security'.

Nanobiotech
An area of expanding research is nanobiotechnology, the nano-scale mixing of biological and non-biological material. Different approaches to nanobiotechnology being explored include atomically modified seeds, incorporating non-living nano- materials into living organisms, creating new synthetic materials incorporating biological materials, harnessing natures ability to 'self assemble' to build complex structures from the level of atoms up and treating DNA as a molecule and atomically engineering life atom by atom.