Umbilical cord blood is the blood that remains in the umbilical cord and placenta after a baby is born. This blood is rich in stem cells, which are special cells that can develop into different types of blood cells and help treat various medical conditions. Collecting umbilical cord blood is a simple and painless process that occurs right after childbirth. Families can choose to donate this blood to a public bank for others in need or store it privately for potential future use in treating diseases like leukemia or sickle cell anemia.