The Track-Back was designed to provide a method of notification between websites.
A SUMMARY is sent to any URLs listed in this box and that SUMMARY usually gets posted along with the other comments on the other site. It is up to the owner of the other site to edit, approve, or delete this Track-Back. On other WordPress site this is done automatically by using the Ping-Back which does NOT send the SUMMARY but instead sends a link to the site.
In WordPress this shows up in the INCOMING LINKS Panel on the DashBoard. This creates a verifiable connection between posts.