Scalability prevents public blockchains from being widely adopted for Internet of Things (IoT) applications such as supply chain management. Several existing solutions focus on increasing the transaction count, but none of them address scalability challenges introduced by resource-constrained IoT device integration with these blockchains, especially for the purpose of supply chain ownership management. Thus, this paper solves the issue by proposing a scalable public blockchain-based protocol for the interoperable ownership transfer of tagged goods, suitable for use with resource-constrained IoT devices such as widely used Radio Frequency Identification (RFID) tags. The use of a public blockchain is crucial for the proposed solution as it is essential to enable transparent ownership data transfer, guarantee data integrity, and provide on-chain data required for the protocol. A decentralized web application developed using the Ethereum blockchain and an InterPlanetary File System is used to prove the validity of the proposed lightweight protocol. A detailed security analysis is conducted to verify that the proposed lightweight protocol is secure from key disclosure, replay, man-in-the-middle, de-synchronization, and tracking attacks. The proposed scalable protocol is proven to support secure data transfer among resource-constrained RFID tags while being cost-effective at the same time.