IPromisePhilip.com, as the URL name suggests, is a new site that's a mini project of Second Life co-founder Philip Rosedale, in which you make a public promise to Philip, and put up a certain amount of money, as collateral. So for example, someone named Cyan Banister has promised to lose 21 pounds by July 2nd (all her post-pregnancy weight), and she's put up $1000 dollars, which she loses to Philip if she doesn't reach her goal. Like a lot of Philip's ideas, the site seems roughly crazy at first, until you give it some thought: There's extra pressure to keep the promise, because it's public, and double extra pressure, because all that money you stand to lose. Read more about it here, on the Coffee & Power blog, because it's a C&P project.

Looks like fun, though I'd suggest a couple ways it could be improved: