Factors and Challenges of Blockchain Technology and Record Management Performance Among Banking Institutions

Abstract

This study explored the relationship between the factors and challenges of blockchain technology and record management performance among banking institutions in Guiuan, Eastern Samar. Specifically, it examined how key factors—usefulness, ease of use, innovativeness, knowledge, trust, risk, and intention to use—affect the influence and adoption of blockchain technology. Additionally, the study assessed challenges such as lack of understanding in scalability, dependability on computers and electricity, storage limitations, and slow processing speed, and how these impact record management. A descriptive-correlational research design was employed, utilizing a structured survey questionnaire administered to 31 bank employees from various banking institutions in Guiuan. The data collected were statistically analyzed using Pearson’s r and eta correlation to determine the significance of relationships between the identified factors, challenges, and record management performance, which was assessed in terms of document capture, preservation, accessibility, retrieval, and disposition. Findings revealed that the respondents perceived blockchain-related factors (e.g., usefulness, trust, and intention to use) positively, with an overall mean score of 3.84, while the challenges faced (e.g., technical limitations and system reliability) were also rated as highly present with a mean score of 3.95. Record management performance was rated very good, with a mean of 4.16, suggesting general awareness and implementation of effective practices. Despite these results, statistical analysis showed no significant relationship between the identified factors or challenges and the record management performance of banks. Thus, the null hypothesis—that there is no significant relationship—was retained. The study concludes that although blockchain technology is perceived as promising in banking environments, particularly in improving workflow and data security, its adoption remains limited due to knowledge gaps and technological barriers. Therefore, the study recommends increased education and phased implementation strategies, enhanced regulatory support, and further research with broader samples to fully understand blockchain’s potential in improving record management systems in financial institutions.