This paper presents a new hybrid approach that is suitable for application to energy smart meter gateways, based on combining both blockchain and Secure Element (SE) technologies serving the roles of a secure distributed data storage system and an essential component for building a “root of trust” in IoT platforms simultaneously. Blockchain technology alone may not completely secure a transaction because it only guarantees data immutability, while in most cases, the data has to be also secured at the point of generation. The proposed combinational approach aims to build a robust root of trust by introducing the SE, which will provide IoT devices with trusted computed resources. The feasibility of the proposed method is validated by testing three different implementation scenarios, using different Secure Element systems (SES) combined with blockchain and LPWAN communication technologies to encrypt, transmit, and save data. This hybrid approach aids in overcoming the obstructions of using any one technology alone, and its use is demonstrated with a case study for an Energy Smart Metering gateway that enables the implementation of a local Peer to Peer energy trading scheme that is end-to-end secure and decentralized.