The Vatican Library was founded in 1451 and has around 82,000 manuscripts, some of which date back about 1,800 years. The library is now working to to convert the first batch of 3,000 manuscripts, with more manuscripts to be digitized later.
An article in Mashable.com describes how the process will work. Workers wear gloves and have to remove all jewelry so as to avoid scratching the paper. After each page is digitized, they will be configured for long-term storage as well as be uploaded onto the Vatican Library’s website, where viewers will be able to look at them for free from a variety of angles.
If it takes four years for every 3,000 manuscripts, the the entire library may not be online for over 109 years. The documents are expected to consume 43 quadrillion bytes of storage space, and will be backed up in case files are corrupted or accidentally deleted.
You can read more at http://mashable.com/2014/04/20/vatican-digitize-documents. Even better, you can watch a YouTube video describing the process: