From Jared Foster:
Beats isn't just another swatch Internet time widget; this one is special. Get this: it's an almost perfect recreation of the clock on the Swatch HQ building in Biel, Switzerland. For those unfamiliar, Internet time has no time zones and time is counted in beats, where each beat is 1/1000th of a day. Of course that means everyone's noon and midnight are at a different (weird) number of beats, but that's okay.
Swatch can make up whatever crazy time system they want and still be pretty awesome. The display can be changed to any of seven fabulous colors, so even if it's not the most functional time system, at least it's aesthetic.