By definition, it is the study and development of nanoscale systems. Nano is a prefix of the International System of Units that means dwarf and corresponds to one billionth of a meter: that is, 1 Nanometer.
Properties and phenomena that are governed by the laws of Quantum Mechanics are observed on this scale. These properties are what scientists take advantage of to create new materials or nanotechnological devices.
Nanotechnology is part of the next generation of innovation in science and engineering that will transform many sectors, including aerospace, energy, information technology, medicine, national defense and transportation. It will enable the development of the next generation of materials that are stronger, lighter and more durable than the materials currently used in buildings, bridges, airplanes, automobiles, and other everyday applications such as credit cards.
Nanotechnology also holds great promise for creating products for a more energy-efficient world, such as more efficient fuel cells, batteries, and solar panels.