I finally found out the difference between UTC and GMT by making the effort to look it up on Wikipedia today. Technically speaking it appears that GMT != UTC because you do not know if it is UTC or UT1 being referred to. However practically, people use the terms interchangeably to indicate the same timezone.
A while ago, I suggested that we change the user interface of one of my companies apps to display UTC instead of GMT.
Just to be sure that our database was not calculating the potential seconds difference between GMT and UTC, I ran the below query and verified that they both are just acting as aliases for the same timezone.
select now() AT TIME ZONE 'GMT', now() AT TIME ZONE 'UTC';
timezone | timezone
----------------------------+----------------------------
2009-02-11 08:46:11.643032 | 2009-02-11 08:46:11.643032
(1 row)
What do you think? Do enough users out there understand UTC? Is it better to use the older but more common term? Or should I just do a UTC/GMT?