Datavault Unveils VerifyU for Real-Time Credential Verification

Data Vault Holdings, Inc., which is under a definitive asset purchase agreement to sell its Datavault^® and ADIO^® IP and IT assets to WiSA Technologies, Inc., announced the launch of VerifyU in collaboration with Arizona State University (ASU) and its Luminosity Lab. The VerifyU platform provides secure, real-time blockchain-based academic credential verification, a key solution for students, educational institutions, and employers who rely on trustworthy and efficient methods to confirm qualifications.

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Executive Director of the ASU Knowledge Enterprise Mark Naufel stated: “VerifyU sets a new standard for secure, seamless credential verification that meets the essential needs of both educational institutions and employers. Our collaboration with Datavault has created a platform that combines academic institutions with practical, scalable solutions. VerifyU is helping to bring a much welcome change in the way academic credentials are verified by ensuring data integrity, reducing time and lowering costs for all parties involved.”

Datavault CEO Nathaniel Bradley said: “By harnessing cutting-edge technologies like blockchain and AI VerifyU addresses both the needs of students and the requirements of employers and academic institutions. Our platform ensures academic qualifications are verified quickly and securely, giving students the tools they need to showcase their achievements with confidence. VerifyU has the potential to significantly lower universities’ administrative costs as well as drive revenue to the university, and our goal is license VerifyU to 20 to 30 educational institutions in 2025.”

The global education verification service market was valued at US $110 billion in 2023 and is estimated to reach US $177 billion by 2030, growing at a CAGR of 10% from 2024 to 2030.¹ Current processes are time-consuming and prone to fraud and misrepresentation; studies indicate that up to 70% of applicants falsify information on their resumes.² VerifyU offers a real-time, tamper-proof system that reduces both time and cost, providing immediate access to verified credentials for employers, graduate admissions, and other stakeholders.

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As concepts like digital badges and micro-credentials gain relevance, VerifyU’s blockchain-based solution creates an immutable record of academic achievements, ensuring that verifications are instantly accessible and fully transparent. This system ensures that credentials are secure and trusted, enhancing the hiring process for employers and strengthening institutional credibility. VerifyU plans to charge a one-time fee to students for lifetime access to the VerifyU platform. According to the National Center for Educational Statistics, the number of graduating students with either a bachelor’s, master’s or Ph.D. continues to increase with over 2 million students graduating with a bachelor’s degree in 2022 and over 1 million students graduating with either a master’s degree or Ph.D. Revenue will be shared between Datavault and the participating university.

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Source : businesswire

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