Attestations are a core building block of society. An attestation is made when an entity makes a statement about something.
We imbue value onto things because of the attestations they've received, and the people and institutions attesting them. When you are born, the government attests to your name, birthday, and sex, then when you are in school the school attests to your grades and your graduation, then when you get a job companies attest to your employment, and so on and so forth.
An attestation consists of two parts: the entity issuing the attestation, and the actual statement of the attestation. When you graduate college, the university hands you a degree attesting to the fact that you passed all the requirements of that degree. Now, note that anybody else can attest to that - the barista at your coffee shop could attest to the fact that you passed all your classes, but it wouldn't matter. The attestation only matters to people when the university issues it.
Attestations are valuable to the extent that people trust the issuer of those attestations.
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We imbue value onto things because of the attestations they've received, and the people and institutions attesting them. When you are born, the government attests to your name, birthday, and sex, then when you are in school the school attests to your grades and your graduation, then when you get a job companies attest to your employment, and so on and so forth.
An attestation consists of two parts: the entity issuing the attestation, and the actual statement of the attestation. When you graduate college, the university hands you a degree attesting to the fact that you passed all the requirements of that degree. Now, note that anybody else can attest to that - the barista at your coffee shop could attest to the fact that you passed all your classes, but it wouldn't matter. The attestation only matters to people when the university issues it.
Attestations are valuable to the extent that people trust the issuer of those attestations.