Earlier quoted context omitted.
It’s called proof of work: https://bitcoin.org/bitcoin.pdf
The giant pile of dirt on my back yard is proof that I did hours of hard work with a tea spoon. Much less efficient than a shovel would have been, as a metaphor for hash algorithms designed to be difficult. Why is that proof of work of any value, to anyone? Hard work, just for the sake of hard work, is a great ideal to the the previous generations - but we traditionally have based our economy on how much your work be…
Or would be, if GPUs could experience enlightenment.
One day, maybe.