A zero-knowledge way of sharing and validating data is the direction we shd move towards. So for example, how can i convince the apartment office that i am a good renter without sharing my personal information? Technology solutions exist for this, just not used.
The real issue here is the fundraising - and in Ripple's case, the ability to sell XRPs as needed - which seems to be a fair question from the SEC given the very big amounts involved?