nanotechnology, contrary to what most think, is not building things smaller and smaller unti they reach a microscopic size...for a limit will reach when we will just not be able to get any smaller. Nanotech is taking the idea backwards...instead of building things smaller and smaller, lets just build things out of smaller materials...namely atoms. think about it, you can't keep on making...say a computer, smaller and smaller. Sooner or later, it will lose the quality it had when it was bigger and there will be a point where you won't be able to make it any smaller without suffering a decrease in quality. Nanotech is the solution. It's just, lets build things out of atoms.
Basically, nanotech revolves around the concept that all things in this world, living and nonliving, are made of atoms. And if we rearrange these atoms we can build just like mother nature did the creatures and objects we want. It's like the building blocks of nature. We can make whatever we want, literally.
All of nanotech rests on the invention of the invention of one machine for it to commence in full force...the Universal Assembler. It's basically just a machine that can "assemble" atoms. So then we can begin studying exactly how things are made in the structure of atoms and make whatever we want literally, even dinosaurs, know what i mean? This will be reeeeaally controversial in the control of this technology.
Also, adding to this is the fact that since we can make anything, we can make something bad as well. Like a perfectly engineered virus, what the scientific community calls the "gray-goo effect", that will spread throughout the earth wiping out all life on earth. The perfectly engineered virus, whoaho hehe. yeah, sorry for the long post
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