The field of cationic polymerization has moved center stage with the r
ecent discovery of living polymerization that lead to the design of po
lymers with controlled molecular architecture. This report will provid
e a brief introduction of living cationic polymerization of isobutylen
e (IB) by tertiary ethers, and new cationic initiating systems based o
n peroxides and hydroperoxides. This paper will also briefly review so
me our recent work on the design of block copolymers via multi-mode po
lymerization (cationic - radical transformation) including the synthes
is of star-blocks. The application of polyisobutylenes (PIBs) in the d
esign of ''beaded molecular strings,'' a new class of molecular assemb
ly will be discussed as well.