PHL blockchain adoption seen shifting from pilots to practical business use

By Edg Adrian A. Eva, Reporter

PHILIPPINE ENTERPRISES are expected to move from blockchain experimentation to practical business applications over the next three to five years, with micro, small and medium enterprises (MSME) potentially using the technology to improve access to financing and streamline operations, according to an industry official.

“There is already momentum,” Philippine Blockchain Week President and co-founder Janelle Barretto told BusinessWorld in an interview on Monday. “The next three to five years will likely be defined by practical application rather than just experimentation.”

“As more successful use cases emerge, particularly in government, finance and enterprise operations, we will see greater confidence among businesses,” she added.

Ms. Barretto said wider adoption is likely to be supported by early implementation among bigger enterprises, which could encourage smaller firms to explore the technology’s use in their own operations.

MSMEs, which account for about 99% of businesses in the Philippines, stand to benefit from blockchain’s ability to create transparent, tamper-resistant and verifiable records.

Ms. Barretto said one of the biggest opportunities lies in improving access to financing.

Many small businesses struggle to secure loans because they lack reliable financial records that lenders can use to assess their creditworthiness.

Blockchain-based systems can create traceable records of transactions and business activities, providing financial institutions with additional information when evaluating borrowers.

The technology could also help firms engaged in international trade by facilitating faster cross-border payments.

Traditional payment systems often require lengthy processing and settlement periods, which can strain cash flow for smaller businesses.

Blockchain-based payment systems could shorten these timelines and allow firms to access funds more quickly.

To support adoption, Ms. Barretto said several local and international providers are offering blockchain-as-a-service platforms, enabling businesses to deploy blockchain solutions without investing heavily in their own infrastructure.

However, she said cost remains a consideration, particularly for MSMEs with limited resources.

For bigger companies, blockchain applications extend beyond financing and payments. Companies are exploring its use in supply chain management, procurement, document verification, loyalty programs and other processes involving multiple stakeholders that require access to a common and trusted source of information.

Ms. Barretto said businesses do not need to place all operations on blockchain networks to benefit from the technology.

“It’s not necessary that you put everything on the blockchain,” she said. “It’s really determining which processes require multiple parties to trust the same information.”

Despite growing interest, blockchain adoption among Philippine enterprises remains at an early stage.

The Philippine Blockchain Report 2025 said 85% of respondents reported having no connection to blockchain technology, while 70% said they were unfamiliar with the concept.

Cryptocurrency remains the most widely recognized blockchain application in the country, particularly for trading, payments, remittances, online gaming and social media-related activities.

Ms. Barretto said increasing awareness, developing technical talent and providing greater regulatory clarity will be critical to accelerating adoption.

“People here understand tech. They can adopt the tech,” she said, adding that the primary challenge is not technical capability but awareness and education about how blockchain can address business needs.

She said Philippine Blockchain Week 2026, scheduled for June 19 to 21, aims to help bridge that gap by showcasing blockchain solutions through discussions, exhibitions and industry engagements.