Umbilical Cord Blood Banking

Have you heard of umbilical cord blood banking?
I heard these from a discussion in a television and research it in the internet for clarification

Before birth, cord is the lifeline of the child inside the womb, it provides nutrient and transports oxygen.After delivery, the cord and placenta are no use and often discarded but recent research found out that the blood remaining in the cord and placenta are rich with blood forming cells (stem cells). These healthy cells can be collected and stored so they can be used in treatment of patient with serious illness like leukemia, lymphoma and other inherited diseases.They are encouraging cord donation from different races and ethnic backgrounds so every race can find their match and also because of numerous medical benefits.
They can be obtained from self and donor either within your family or other family as long as one found their match.Umbilical cord blood banking provides one an insurance because one have a piece of mind because of the availability of valuable resources when one needs it. Ethical dilemma is one of the problem because couples tend to bear another child for the access to blood forming cells. This is stored in a specialized equipment,the initial fee range from $900 to $1200, and annual storage fee is approximately $100. If one doesnt want to preserve their child's cord blood they can donate it to foundations, non profit organizations, and medical institutions to help other people and there are no cost to you.