Slideshare and oEmbed

The blogrecently published a post about a WordPress plugin for embedding a SlideShare presentation. The post states that “The plugin uses oEmbed protocol to fetch the embed content from SlideShare“. What is oEmbed?  It seems that:

oEmbed is a format for allowing an embedded representation of a URL on third party sites. The simple API allows a website to display embedded content (such as photos or videos) when a user posts a link to that resource, without having to parse the resource directly.

It seems to be supported by a number of well-known companies including YouTube, Flickr, and Vimeo.  But is it an “open standard”?  Note that further information is available from the following resources: