These days, the word "nano" seems to be popping up everywhere. Wall Street, Hollywood, and major universities around the globe have all endeavored to associate their diverse enterprises with this word. "Nano" is a metric unit that means one billionth of a unit; as of late, it has been used most frequently in reference to nanotechnology. The term "nanotechnology" has never been used so broadly.
K Eric Drexler coined it in his 1986 book, Engines of Creation to refer to his theories for molecular manufacturing, following up on visionary ideas presented 27 years earlier by famed physicist, Richard Feynman. As the possibilities of molecular nanotechnology grew and excitement built in the scientific community many researchers began using the term for their own endeavors at the nanoscale, unrelated to molecular manufacturing.
Nanotechnology seeks to provide and apply knowledge of the behaviour of objects in the nanometre (nm) size range to the assembly of complex structures for use in a variety of practical applications. The tiniest substances promise to transform industry and create a huge market. In chemicals, cosmetics, pharmaceuticals, technology and textiles, businesses are researching and manufacturing products based on nanotechnology, which uses bits of matter measured in billionths of a metre.