What you said make sense and I understand what you're saying....but isn't there a subtle difference between "non-scam" ICOs and XRP? Ripple network is a currency agnostic, meaning you should not hold XRP to be able to transact in the network, you can do USD, EUR etc...Now they created 100 billion of a token then can basically do the same thing as the rest of the cryptocurrencies (i.e. transferring values without third party) but with a centralized entity.
You do realise that ALL ICOs are exactly the same as this - we have no ownership in any of the companies - nor control of their token releases etc
What you said make sense and I understand what you're saying....but isn't there a subtle difference between "non-scam" ICOs and XRP? Ripple network is a currency agnostic, meaning you should not hold XRP to be able to transact in the network, you can do USD, EUR etc...Now they created 100 billion of a token then can basically do the same thing as the rest of the cryptocurrencies (i.e. transferring values without third party) but with a centralized entity.
Nope you need to read up on Nostro/Vostro account and the SWIFT interbank transfer system to understand why the "independent" token is the way to go