  The paper shows deep connections between exotic smoothings of small R^4,
noncommutative algebras of foliations and quantization. At first, based on the
close relation of foliations and noncommutative C*-algebras we show that cyclic
cohomology invariants characterize some small exotic R^4. Certain exotic smooth
R^4's define a generalized embedding into a space which is K-theoretic
equivalent to a noncommutative Banach algebra. Furthermore, we show that a
factor III von Neumann algebra is naturally related with nonstandard smoothing
of a small R^4 and conjecture that this factor is the unique hyperfinite factor
III_1. We also show how an exotic smoothing of a small R^4 is related to the
Drinfeld-Turaev (deformation) quantization of the Poisson algebra
(X(S,SL(2,C),{,}) of complex functions on the space of flat connections
X(S,SL(2,C) over a surface S, and that the result of this quantization is the
skein algebra (K_t(S),[,]) for the deformation parameter t=exp(h/4). This skein
algebra is retrieved as a II_1 factor of horocycle flows which is Morita
equivalent to the II_infty factor von Neumann algebra which in turn determines
the unique factor III_1 as crossed product. Moreover, the structure of Casson
handles determine the factor II_1 algebra too. Thus, the quantization of the
Poisson algebra of closed circles in a leaf of the codimension 1 foliation of
S^3 gives rise to the factor III_1 associated with exotic smoothness of R^4.
Finally, the approach to quantization via exotic 4-smoothness is considered as
a fundamental question in dimension 4 and compared with the topos approach to
quantum theories.
