Hematopoietic Stem Cells (HSCs) are a type of stem cell responsible for the formation of all the blood cells in the body. These multipotent cells reside primarily in the bone marrow and have the unique ability to differentiate into various types of blood cells, including red blood cells, white blood cells, and platelets. They play a crucial role in the maintenance and regeneration of the hematopoietic system throughout an individual's life.