T is just a marker in which time begins.
Z is the Zulu time zone, which is the same as UTC.
From the Wikipedia article on ISO 8601
A single point in time can be represented by concatenating the full date expression, the letter T as a separator, and the actual time expression. For example, "2007-04-05T14: 30".
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If the time is in UTC, add Z immediately after the time without a space. Z is the zone designation for the UTC zero offset. β09:30 UTCβ is therefore represented as β09: 30Zβ or β0930Zβ. β14:45:15 UTCβ will be β14: 45: 15Zβ or β144515Zβ.
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