While there exist many different image file formats, the JPEG committee concluded that none of those formats addressed a majority of the needs of tomorrow's complicated imaging applications. Many formats do not provide sufficient flexibility for the intelligent storage and maintenance of metadata. Others are very restrictive in terms of colorspace specification. Others provide flexibility, but with a very high cost because of complexity. The JPEG 2000 file format addresses these concerns by combining a simple binary container with flexible metadata architecture and a useful yet simple mechanism for encoding the colorspace of an image. This paper describes the binary format, metadata architecture, and colorspace encoding architecture of the JPEG 2000 file format. It also shows how this format can be used as the basis for more advanced applications, such as the upcoming motion JPEG 2000 standard.