Science and technology are the main components of economic and social development, and globalization. They are, on the one hand, responsible for improvement in the quality of life, but on the other hand, if technological processes are applied prior to their toxicity evaluation and safety testing, they may also become unfriendly. It is therefore necessary to implement any new technology only after it has undergone complete risk assessment studies. The biotechnological revolution, also called the Life Science Revolution, and the new technologies available to it are claimed to have the potential to change everything about our society. Among the newest tools is the concept known as nanotechnology, the science of small particles. The advocates of nanotechnology predict that it will revolutionize the field of engineering, electronics, medicine, IT etc. However, present studies suggest that it also poses a number of threats to human health. The use of nanotechnology techniques without prior human health evaluations faces society with the possibility that they could become the 'asbestos' of the twenty-first century. Asbestos was discovered in 1878 and became a common, highly desirable component in thousands of products and industrial applications all over the world. Only later was it realized that prolonged exposure to asbestos causes Asbestosis, Malignant Mesothelioma and Bronchogenic Carcinoma. These diseases were identified only after a long latency period. Unfortunately, many nanotechnology-related products are already on the market and in use without having undergone adequate safety evaluations. Serious adverse health effects can emerge when engineered NPs (nanoparticles), which in general were not properly characterized regarding their biohazard potential, are administered to humans intentionally (e.g., for medicinal purposes) or unintentionally (e.g., in the course of regular or accidental industrial processes).