Cord blood banking involves collecting and storing the blood from the umbilical cord and placenta after a baby is born. This cord blood contains hematopoietic stem cells that can treat over 80 diseases. The stem cells in cord blood have advantages over bone marrow and peripheral blood stem cells, including being younger, more abundant, and less likely to cause graft-versus-host disease after transplantation. Cord blood is collected after delivery, processed to test for infections, and frozen for potential future medical use to treat conditions like cancer, blood disorders, and immune deficiencies.