In this work hydrophobicaly ligated cadmium selenide/zinc sulfide CdSe/ZnS quantum dots (QDs) were incorporated in transparent matrices by formation of CdSe/ZnS/SiO2 core/shell/shell structure using microemolsion synthesis method. The optical properties of the QDs encapsulated with a chemically grown oxide layers were studied. Intense luminescence properties of the QD/silica nanoparticles (NPs) were observed using steady state photoluminescence (PL) measurements. Confocal microscopy demonstrates fluorescence of the single core/shell/shell nanoparticles. The obtained results along with the Secondary Electron Microscopy (SEM) and Transmission Electron Microscopy (TEM) images provide information on the geometry of the QDs. The excitonic emission of nanoparticles was also mapped using a liquid nitrogen cryostat the 77K - 300K range. The temperature dependent PL spectra of the film demonstrate the temperature-dependent band gap shrinkage of the QDs. PL lifetime measurements were performed on the ensemble of NPs. Experimental data was fitted to the numerical model with lifetime constants in nanoseconds range. We demonstrate that the main nonradiative processes that limit the quantum yield (QY) of the QDs at room temperature are the carrier trapping at the interface of QD/silica and the exciton-phonon coupling. These studies give us insight to exploit the QD layers for photon down shifting and multiple exciton generation for application in photovoltaics.