It sounds interesting enough, I just don't know for sure whether I really understand how it works. But, you made me curious enough (together with their website heh) to join myself :)
I haven't read it completely yet either. But it seems fairly simple. After you've read a book, you leave it anywhere you want, with a sticker inside, then hope that whoever picks it up writes it on that site. Then continues to do the same after he/she reads it.
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That way some books might go around the world..