According to the Center for Responsible Nanotechnology (2008), nanotechnology can be defined as the engineering of functional systems at the molecular scale. The origin of the term nanotechnology is attributed to Eric Drexler who made several attempts to popularize it in the 1980s. Today, the potential of this technology has been realized in a number of sectors. Many countries are now formulating the appropriate roadmaps for the development of nanotechnology. However the technology is not without economic costs. Apart from the initial cost of installing the technology itself, it is expected to render some people jobless because of the expected change in all technological sectors. Though Nanotechnology may be seen as an economic threat, its wide scope solutions to the field of medicine, other industries and people’s social lives outweighs this disadvantages and could be used to change the world for better.

Will the Technology Change the World?

The International Technology Laboratory (2011) has noted that this technology will greatly revolutionize the medical sector. The laboratory has noted that the technology will revolutionize both the preventive medicine and the molecular technology. This will be realized through the improvement of both the bioactivity and the biocompatibility of implants, the replacement of the self-organizing scaffolds by a new generation of tissue engineering and the biomimetic materials.

The International Technology Laboratory (2011) has also noted that the technology will finally allow the innovation of new systems of drag delivery. Another attempt currently being researched on is the possibility of treating the tumor cells by the use of the non particles. The Center for Responsible Nanotechnology (2011) has observed that nanotechnology will also make it possible for the building of various molecular mechanisms capable of assisting our own system to get rid of virus. This will possible reduce the world death rates as well as increasing life expectancy ratio.

Despite these contributions, the technology also has various negative impacts in the field of medicine. This includes the possible change in the properties which may have potential side effects on the patients. Joshi (2010) noted that in certain circumstances there may also be inhalation of non particles. Another risk may result from the unmonitored body entry through pores.

The technology is also expected to revolutionize the security systems through the possibility of invention of non-robotics used in surveillance. According to the international Technology Laboratory (2011), nanotechnology will also cause a great improvement in the information technologies. This is because of the possibility of the innovation of data storage media with increased recording densities and new plastic display technologies which will automatically be more flexible. It is also envisioned that the innovation of the molecular or bimolecular nanoelectronics would results into the replacement of the current computers with spintronics and quantum computing.

The international Technology Laboratory (2011) has also noted that the technology will also revolutionize the energy production and storage. This is because the technology will enable the invention of novel fuel cells or the light weight nanostructured solids which will allow for more efficient ways of storing hydrogen. The laboratory has also noted that the technology will also result into more efficient and cheaper photovoltaic cells for the solar energy production. It is also anticipated that it would be possible to save more energy which will be made possible by the development of appropriate nanotechnologies that would greatly improve insulation, transportation and the lighting efficiency.

Kanellos (2004) also noted that the nanotechnology will also give rise to nano-particles which will allow the reinforcement of materials and the functionalizing of cosmetics. The resulting materials will be useful in the modification of various materials resulting into water proof and scratch proof materials. This will greatly revolutionize the clothing industry.

(Kanellos 2004) also noted that the technology will also help in ensuring environmental sustainability through the reduced dependency on fossil fuels. This will reduce the rate of pollution; stabilize the global climate as well as reducing the dangers facing the life forms such as the effect of acid rain.

In conclusion, it is therefore clear that despite its cost nanotechnology will greatly change the world.

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