Swatch, the Swiss watch maker, introduced .beat to the market in Oct, 1998. It is a reckoning of time by eliminating the concept of time zone and centralized the concept of time with one system, by dividing 24 hr into 1,000 beats.
Why did this idea fail? It seemed like a good idea. The benefit of .beat is to link to people around the world
I guess that it was designed under a colonial mindset. Using Europe as a centre point, all other people from the other side of the globe followed this system. People easily lose their sense of time that detached with the nature environment.
BTW, the old social media, such as ICQ, MSN, the online stability was not as stable as nowadays. People keened on chats with others. Type and reply were doing simultaneously. Keeping the time and schedule to chat was very necessary.
However, nowadays, the technology is more advance. Messages could be kept for years. The internet linkage is more stable and we always keep our devices online. Read and write do not have to be made simultaneously. Then, we lose the interest to keep reckoning times. Beat loses its ground to define a new way of living.