Even with the efforts done by the inventor Satoshi Nakamoto and the people who supported bitcoin around the world, still these guy from EY says there was no practical use for it and the deflationary model can only give damage to the global economy.
I don't know how deflationary model can leads to damaging economy. These EY guys are either too smart or too fool.
Bitcoin should be viewed as means of remittance based on peer-to-peer model which could be used by any person to do transaction with second person without involving any third party. Non-involvement of third party and self-verification system make Bitcoin much more safer than any other mean of remittance.
The article assumes the situation where Bitcoin will be used as major currency but we Bitcoiners know, we don't want Bitcoin to replace fiat but provide an alternative to give greater degree of privacy and liberty in financial transactions.