According to CoinMeta, Jeff Schmidt ( Jeff Schmid ), the president of the Federal Reserve Bank of Kansas City, warned at the upcoming 49th Economic Symposium that with the emergence of new payment forms such as stablecoins, blockchain, and instant payments, payment innovations could have a significant impact. He stated that in the next decade, we will discuss more about the sources and duration of liquidity, rather than just capital issues. Schmidt pointed out that the innovation of stablecoins requires that all outstanding payment stablecoins must be backed by highly liquid and secure assets in a 1:1 ratio, which could affect financial stability.