"The principles of physics, as far as I can see, do not speak against the possibility of maneuvering things atom by atom. It is not an attempt to violate any laws; it is something, in principle, that can be done; but in practice, it has not been done because we are too big."
— Richard Feynman, Nobel Prize winner in physics

Nanotechnology is the engineering of functional systems at the molecular scale. This covers both current work and concepts that are more advanced.

In its original sense, ‘nanotechnology’ refers to the projected ability to construct items from the bottom up, using techniques and tools being developed today to make complete, high performance products.

What is nanotechnology all about?

Nanotechnology is the engineering of tiny machines — the projected ability to build things from the bottom upinside personal nanofactories (PNs), using techniques and tools being developed today to make complete, highly advanced products. Ultimately, nanotechnology will enable control of matter at the nanometer scale, using mechanochemistry. Shortly after this envisioned molecular machinery is created, it will result in amanufacturing revolution, probably causing severe disruption. It also has serious economic, social, environmental, and military implications.

Much of the work being done today that carries the name ‘nanotechnology’ is not nanotechnology in the original meaning of the word. Nanotechnology, in its traditional sense, means building things from the bottom up, with atomic precision. This theoretical capability was envisioned as early as 1959 by the renowned physicist Richard Feynman.

Four Generations of nanotechnology:

Mihail  (Mike ) Roco  of the U.S. National Nanotechnology Initiative has described four generations of nanotechnology development (see chart below). The current era, as Roco depicts it, is that of passive nanostructures, materials designed to perform one task. The second phase, which we are just entering, introduces active nanostructures for multitasking; for example, actuators, drug delivery devices, and sensors. The third generation is expected to begin emerging around 2010 and will feature nanosystems with thousands of interacting components. A few years after that, the first integrated nanosystems, functioning (according to Roco) much like a mammalian cell with hierarchical systems within systems, are expected to be developed
It is difficult to say for sure how soon this technology will mature, partly because it’s possible (especially in countries that do not have open societies) that clandestine military or industrial development programs have been going on for years without our knowledge.

Is nanotechnology bad or good?

Nanotechnology offers great potential for benefit to humankind, and also brings severe dangers. While it is appropriate to examine carefully the risks and possible toxicity of nanoparticles and other products of nanoscale technology, the greatest hazards are posed by malicious or unwise use of molecular manufacturing. CRN’s focus is on designing and promoting mechanisms for safe development and effective administration of MM.

We cannot say with certainty that full-scale nanotechnology will not be developed with the next ten years, or even five years. It may take longer than that, but prudence—and possibly our survival—demands that we prepare now for the earliest plausible development scenario.