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Basically, every node (even user only nodes) would be able to issue any debt they want, but the value of what they issue would be the value that the receiver attributes to the node. It's not a technical matter, I'm talking about the value they attribute to that person in the real world.

For example, if a perfect stranger tells  you you are a good person, you thanks him but it has little value for you. On the other hand, if your mother tells you the same thing it has a great value for you.
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People might also use them for professional references. For example, as a professional I mention a bitcoin  adress on my website, and then when people go and check for transactions of type : "Allowance", they would see the one I've issued and the one I've received to and from people and companies along with a comment for example. And we can imagine that the higher the number is, the better they appreciated us.

It might sound odd because we  see the bitcoin currency as the only thing having value in the bitcoin network. But exchanging value doesn't mean that I want/need to exchange bitcoins, and as long as I do it in a decentralized way, with no indexation on fiat currencies etc... we're still along with Satoshi's vision.

But the point here is that by simply implementing this transaction type, countries will move from fearing bitcoin because it threatens their financial soveignty, to loving it because it would allow them to create money without cost, and without depending on any central bank, or foreign country.

Bitcoin would be as gold whose value is intrinsec and whose value is valued by everybody.