The below link to the article "UNC researchers inch closer to unlocking potential of synthetic blood" is a good example of what I term the "Convergence Chain". In this example, nanotechnology is providing a means to develop a material to meet very specific characteristics that are necessary to advance life sciences research/development. Further, the future availability of synthetic blood would likely lead to lower health care costs, less exposure to donor-sourced contamination (i.e. contracting hepatitis or HIV from improperly screened/processed human blood), more effective treatments/therapy for blood disorders, less worker productivity losses and employment opportunities (i.e. synthetic blood manufacturing/distribution jobs, synthetic blood improvement research in performance enhancement for athletic/military applications, etc.).
(Of course, there is always a downside. This will put pressure on cookie/orange juice sales as human blood donations will become obsolete and undergraduates will not be able to engage in plasma donation to cover tuition expenses or beer purchases.)