OpenTimelineIO is an interchange format and API for editorial cut information.
OTIO is not a container format for media, rather it contains information about the
order and length of cuts and references to external media.

OTIO includes both a file format and an API for manipulating that format.
It also includes a plugin architecture for writing adapters to convert from/to
existing editorial timeline formats. It also implements a dependency- less library
for dealing strictly with time, opentime.

You can provide adapters for your video editing tool or pipeline as needed.
Each adapter allows for import/export between that proprietary tool and the OpenTimelineIO format.