How to Read a Binary Clock

What is a binary clock? Before doing a web search I would have guessed this:

My Fake Binary Alarm Clock (time is 6:43 PM).
6:43 PM on my fake binary alarm clock (courtesy photo-editing software).

In other words, a regular digital clock, except with binary numerals instead of decimal numerals. But as far as I know, a clock like this doesn’t exist. If you search for “binary clock,” you get a clock of a different design, one like this:

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