From the website:
A .beat clock for Apple's Dashboard which has the ability to display tenths of a beat. Beats are a mesurment of time where the day is divided into 1000 beats each being 86.4 seconds. No time zones need to be considered as all beat clocks reference UTC+1. Daylight savings time is also not used. As such, beat time is the same all over the world and has lead many people to call it Internet time.