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This category of cloud computing is based on service. The problem with your idea is the service description would be rights protection for the publishers as a service.
From a consumer perspective I can use cloud storage as a service today and use the existing buy and download model to give me the same benefit. It's trying to solve a problem that doesn't exist. I'm sure there will be ebook library management as a service offerings but for me to sign up they would have to be open and independent from any corporate interests, other then collecting money for the service.
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