IT is used in a detonating box (forget what the proper name for it is)
You know...... The box you hook up to blasting caps
and you push the button to make them go boom!
Modern units use a dc to dc converter to change
the 1 to 3V of battery voltage over to around 100V.
The HV output is of very low current.
It is used to charge a capacitor.
When the capacitor if fully charged (indicated by a meter on the box)
you can then push a button which connects the charged capacitor to the
detonating wire that goes to the caps you are wanting to set off.
Old ones used a hand cranked generator to charge the cap.
(like the one you have)
Or like the real old "plunger" types you seen in the old movies.
In the plunger setup, when you pushed down on the plunger,
It spun the generator, and when it bottoms out,
it connects the system to the output wires.