Internet time
n. A proposed universal time system for the Internet that divides each day into 1,000 units (about 86.4 seconds each).

Example Citation:
"So it was that at @786, or about one hour after the sun was overhead in New York City, or 1752 Greenwich Mean Time, Mr. Carreno, 29, a computer consultant, explained his enthusiasm for what Swatch is calling 'Internet time.' This way, when he meets with friends and colleagues on-line, they 'have an understanding,' he said. 'It's @786 all around the world.' "
—Amy Harmon, "It's @786. Do You Know Where Your Computer Is?," The New York Times

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