Umbilical cord blood collected at birth is a rich source of stem cells that can be used to treat diseases of the blood and immune system. Cord blood stem cells which have infinite medical potential are currently used in the treatment of several life-threatening diseases, and play an important role in the treatment of blood and immune system related genetic diseases, cancers, and blood disorders. Transplant recipients are less likely to reject a cord blood stem cell and do not require a perfect match as bone marrow transplants do. Transplantation of umbilical cord blood stem cells represents a major advantage in providing a new source of stem cells to patients in need. Private storage of cord blood stem cells clearly has value, in that it provides future patients and families with potential therapeutic options for transplant. Many recent studies showed that human umbilical cord blood stem cells have the potential to generate cells with neuronal characteristics. Therefore, the umbilical cord blood stem cells can be viewed as the stem cells source of choice for clinical and non-clinical research applications.