Blockchain technology has emerged as a transformative solution for secure, immutable, and decentralized data management across diverse domains, including economics, healthcare, and supply chain management. Given its soaring adoption, it is crucial to assess the suitability of various blockchain platforms for specific applications. This study evaluates the performance of Hyperledger Fabric (HF) and private Ethereum (Geth) to analyze their scalability (node count), throughput (transactions per second (TPS)), and latency (measured in milliseconds). A benchmarking tool was developed in-house to assess the execution of key smart contract functions—QueryUser, CreateUser, TransferMoney, and IssueMoney—under varying transaction loads (10–1000 transactions) and network sizes (2–16 node count). The results indicate that HF performs significantly better than private Ethereum in terms of invoke functions, achieving up to 5× throughput and up to 26× lower latency. However, private Ethereum excels in query operations because of its account-based ledger model. While Hyperledger Fabric scales efficiently within moderate transaction volumes, it experiences concurrency limitations beyond 1000 transactions, whereas private Ethereum processes up to 10,000 transactions, albeit with performance fluctuations due to gas fees. The findings offer valuable insights into the strengths and tradeoffs of both platforms, informing optimal blockchain selection for enterprise applications that require high transaction efficiency.