“Every newborn could have their own umbilical cord blood frozen and stored for future use at very little relative cost.”
I think it costs $3000-$5000 and you can do it today.
We did it for our son. If I remember correctly it was about $2000 that they financed over 5-6 payments and then it is about $95 a year for storage.
I hope I never need to use it. It does make sense to me to have it just in case.