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

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.