It's something like bitcoin indeed, just can't really find how the credits go into the systeem.
Can't find anything about generating or something similar.

Last changes are from 2004, so I guess this project is pretty dead.

edit:
From the manual, an example how it works:
This Geek Credit was created by alice who paid to bobby few Geek Credits including this one. Later bobby paid to catty using this Geek Credit. If later catty will pay it to alice, this credit will be redeemed (destroyed).

If I'm correct it is more a lets system.
When I was reading the faq that comes with the source it was like I was reading a faq for Bitcoins.
Allready was thinking, wtf this is from 2004? But seems like there are some things very different.