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bill_mchale - Oh it's perfectly possible, from a technical standpoint. Public/private key encryption, as are many of these solutions. When you buy books, you enter your public key, and it gives you a tailored download. Those downloaded books can be read on any reader on which you have entered your private key.
(You can generate the private key from a username/password combo, based on a standard generation method...)
As long as your private key is kept secret, there is no way to read the books, and hence the files themselves don't matter unless the private key is included. And from the private key, you can establish the public key...and establish a direct link to the person who shared the books.
(The public key is harmless in itself, all it can be used for is encoding content for use with your private key. You basically can't derive the private key from it - while it's breakable, you can require a few million dollars of distributed computing work to do so!)
Will it happen? Will it heck.
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