Krach Informs Lawmakers on Tech Statecraft and Urges a Clean Capital Markets Strategy
WASHINGTON—December 10, 2021— Krach Institute for Tech Diplomacy at Purdue co-founder and chairman Keith J. Krach met with members of Congress and key policymakers in Washington D.C. this week about the urgent need to encourage widespread adoption of trusted technology to secure freedom from authoritarianism. He also briefed members of the Congressional China Task Force on Wednesday on how to master Tech Statecraft and execute a Clean Capital Markets strategy. Krach previously served as the unanimously confirmed Under Secretary of State and Chairman and CEO of DocuSign.
Krach is one of the foremost authorities for combating China’s economic aggression because of his lead role in developing and operationalizing the Global Economic Security Strategy, as well as his transformational leadership in building market leading companies,” Rep. Mike McCaul (R-Texas), chairman of the China Task Force. “During his tenure at the State Department, Krach developed the new model of Tech Statecraft rooted in trust by integrating high-tech strategy with diplomatic tools and building the Clean Network, which defeated the Chinese Communist Party’s (CCP) masterplan to control 5G.”
“China has built a Great One-Way Financial Firewall. Hard currency can flow in but not out. Reciprocally, China Inc. can raise U.S. money, but U.S. audits are off limits,” said Krach. “It is a national imperative to develop and operationalize a proactive, integrated capital markets strategy to protect investors from the risk of financing China’s military machine, surveillance state, and human rights abuses and create a level playing field for U.S. companies.”
“For decades, the CCP has been using a slow and deceptive campaign to achieve superpower status by eroding the foundations of democratic societies around the world and American global leadership. The CCP is a strategic adversary and our top competitor,” said Rep. Mike McCaul. “Today, Keith Krach, former U.S. Under Secretary of State, joined China Task Force members on Capitol Hill to discuss how we can stop capital flow into the CCP.”
The Krach Institute for Tech Diplomacy’s nonpartisan work has been covered by The Washington Post; and Harvard Business School, which published a case study on the positive impact of tech diplomacy on the global supply chain. The Institute has attracted many luminaries to its mission. In November 2021, former U.S. Secretary of Defense and Director of the Central Intelligence Agency Leon Panetta joined its bipartisan Global Advisory Board. Along with General Stanley McChrystal, Dr. Dan Goldin, Ambassador Robert Hormats, and others, he serves as a key advisor to the leadership of the Krach Institute for Tech Diplomacy at Purdue.
About the Krach Institute for Tech Diplomacy at Purdue:
The Krach Institute for Tech Diplomacy at Purdue is the world’s preeminent institution focused on Tech Statecraft, a new model of transformational diplomacy that integrates high-tech strategies with foreign policy tools and national security to ensure trusted technology is used to advance freedom. The Krach Institute for Tech Diplomacy’s nonpartisan model focuses on rallying our allies, leveraging the innovation of the private sector, and amplifying democratic values based on trust. The Institute leverages Purdue University’s strength in innovation, deep expertise in technology and global prowess in educating transformational leaders, combined with its uniquely qualified members’ battle-tested track record in building market-leading high-tech companies, onshoring strategic supply chains, building trusted global networks, architecting and operationalizing successful global economic security strategies, and applying Silicon Valley strategies to defeat the CCP’s 5G masterplan.
For more information, go to techdiplomacy.org. Follow the Krach Institute for Tech Diplomacy at Purdue on Twitter, LinkedIn, and YouTube.