The Adoption of Blockchain Technology in the Selected Enterprises in the Philippines: A Comparative Multi-Factor Analysis

Authors

DOI:

https://doi.org/10.32996/jbms.2025.7.4.20.25

Keywords:

Blockchain, technology, organizational, environmental, adoption, TOE framework

Abstract

This study investigates the effects of Technology Factors, Organizational Factors, Environmental Factors, Perceived Usefulness, Perceived Security, and Awareness on the Adoption of Blockchain Technology among top executives of companies operating in the Philippines’ burgeoning blockchain sector. Using multiple linear regression analysis, the research examines how these variables influence enterprise adoption decisions and whether industry type (e.g., manufacturing, services, or finance) moderates these relationships. The results indicate that Organizational Factors, Environmental Factors, and Awareness exert significant positive impacts on blockchain adoption, whereas Technology Factors, Perceived Usefulness, and Perceived Security do not show significant effects. Moreover, the moderating role of industry type is not statistically supported. Grounded in the Technology–Organization–Environment (TOE) framework and extended adoption models, this study advances theoretical understanding of blockchain diffusion in the Philippine context and offers actionable insights for practitioners and policymakers seeking to accelerate widespread implementation. The findings underscore the importance of organizational readiness, supportive external environments, and heightened managerial awareness in driving blockchain adoption within the country’s rapidly evolving digital economy.

Author Biographies

  • Emmanuel P. Paulino, DBA, LPT, De La Salle University Dasmarinas
    Emmanuel Paulino, DBA, LPT is a faculty member in different Graduate Schools in the Philippines.  He teaches research methods, statistics, and business analytics at Ateneo de Manila University, De La Salle University, University of the City of Manila, Jose Rizal University, and San Beda College Alabang.  His interest is in conducting studies on marketing and management areas using different statistical and analytics conventions.  He is also currently the Research Director of the College of Business Administration and Accountancy at De La Salle University Dasmarinas.
  • Ronald P. Romero, PhD, Pamantasan ng Lungsod ng Maynila (University of the City of Manila)

    Ronald P. Romero, Ph.D. is the vice president for academic affairs at the Pamantasan ng Lungsod ng Maynila (PLM) and is currently a faculty member in the graduate school program. He teaches thesis writing, dissertation writing, financial management, capital markets, risk management, operations management, business, and international economics. He has already published several studies related to different business issues. 

  • Ronaldo A. Tan, PhD, Pamantasan ng Lungsod ng Maynila (University of the City of Manila)
    Ronaldo A. Tan, Ph.D.  is the Vice President for Administration at the Pamantasan ng Lungsod ng Maynila and currently a faculty member in the graduate school program for engineering and information technology. He teaches software development tools and methodologies, Information Technology Industry Practices and Immersion, Advance IT Project Management, Seminar in Emerging Technology, Leadership in Information Technology, and IT Research. He received his Doctor of Technology at the Technological University of the Philippines, Manila and his Doctor of Philosophy in Education at Adamson University, Manila.
  • Benedicto L. Avila, Pamantasan ng Lungsod ng Maynila (University of the City of Manila)
    Benedicto L. Avila is currently the University Registrar at the Pamantasan ng Lungsod ng Maynila. He has over twenty-five years of experience in the industry and teaching related to information technology and business.
  • Paulo Noel A. Mazo, DBA, LPT, Pamantansan ng Lungsod ng Maynila (University of the City of Manila)

    Paulo Noel A. Mazo, DBA, LPT, is currently the Dean of the College of Tourism and Hospitality Management, concurrent to his post as Graduate School Program Director of the College of Business Administration of the Pamantasan ng Lungsod ng Maynila (PLM). He has already published studies related to business and management.

Downloads

Published

2025-08-14

Issue

Section

Research Article

How to Cite

Paulino, E., Ronald, R., Tan, R., Avila, B., & Mazo, P. N. (2025). The Adoption of Blockchain Technology in the Selected Enterprises in the Philippines: A Comparative Multi-Factor Analysis. Journal of Business and Management Studies, 7(4), 364-378. https://doi.org/10.32996/jbms.2025.7.4.20.25