MOST EXPENSIVE SUBSTANCE COSTS £106,000,000 PER GRAM

You would be mistaken to believe that trading a whopping £106,000,000 for a single gram of a so-called "valuable" substance is a bad deal. This is due to the extraordinary powder's enormous potential, which could fundamentally alter technology for anyone with deep enough pockets to obtain it.

The University of Oxford claims that Nitrogen Atom-Based Endohedral Fullerene is the "most expensive thing on Earth."

Scientists explained that they created the new material in the hopes of accomplishing the seemingly impossible: producing extremely tiny, extremely precise atomic clocks that measure time by measuring atomic vibrations. Usually, these are the size of a room, so they're not exactly portable.

The Oxford researchers explained that the development of miniature versions of these atomic clocks could "revolutionise" navigation data since they are an "integral" component of GPS systems, which many of us use on a daily basis to get from point A to point B. We could locate objects very precisely and easily if we could all carry portable atomic clocks. Some experts even predict that the material will eventually appear in smartphones.

The substance's developer, Dr. Kyriakos Porfyrakis, previously told the Telegraph: "Consider a miniature atomic clock that you could carry around in your smartphone. The next big thing in mobile is this."

The "fullerene" component of endohedral nitrogen atoms The term "fullerene" describes its structure, which consists of a "cage" of carbon atoms with a nitrogen atom inside. Its name is a tribute to the philosopher and architect Richard Buckminster Fuller, who was well-known for his designs that included unique geodesic domes with interlocking triangles.

However, what's really exciting to people is what the material could do for the world, not what makes it interesting in and of itself. Since these atomic clocks are the most precise timekeeping devices on the planet, it is possible that driverless cars' GPS navigation will be accurate to within one millimetre. That would be really amazing.

The current technology's accuracy is limited to a few yards, which makes it difficult to track and operate these kinds of motors. However, Nitrogen Atom-Based Endohedral Fullerene may be able to help with this. Future driverless cars may be much more common on the roads as a result of the tiny atomic clock's increased reliability.

"The accuracy of on-board atomic clocks could help GPS systems track a car's location, even where the GPS signal is weak, such as through tunnels," the Oxford scientists explained. "This could suddenly make remote driving a whole lot safer."

Although the driving-related application was the logical first step, Lucius Cary, a director of the Oxford Technology SEIS fund, previously told the Telegraph that there would be "lots of applications for this technology."

"Managing self-driving cars is the most obvious," he stated. "Knowing where two cars are within 2 meters of each other on a country lane is sufficient, but knowing where they are within 1 millimetre is not."

Dr. Porfyrakis cautioned that atomic clocks won't be used in our daily lives for some time to come. "This research project will take a few years to finalise," he continued. "The final product, if one is created, ought to be small enough to fit inside portable electronics."