I just happened to watch a telecast on Discovery India on a topic called Speed with modern research and one of the ideas that predicted much result was Super Cavitation.

Supercavitation is the use of cavitation effects to create a large bubble of gas inside a liquid, allowing an object to travel at great speed through the liquid by being wholly enveloped by the bubble. The cavity (i.e., the bubble) reduces the drag on the object and precisely this makes supercavitation an attractive technology: drag is normally about 1,000 times greater in water than in air.
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The potential of this technology being relatively frictionless linear as well as radial motion in an environment of much high density and hence much high drag.

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