Tokens are here to stay as a powerful new way to offer incentives and support value exchange in a blockchain-based network. So ignoring tokens altogether is not, in my honest opinion, wise.
All equity, which is the conventional route, is both slower and more dilutive than tokens. However, just doing a token goes too far the other way - it doesn't lay a solid foundation for a company as a business.
You do not put private data on the chain. You put public data on the chain.