Recreating Sloot Digital Coding System

Here is a puzzle! In 1999, a new algorithm was supposed to be released "Sloot Digital Coding System" which was never released. Let's try to re-create it! What can it potentially do? It can take an 8GB movie and compress it to only several hundreds of kb. What do we actually know? An average DVD movie is 4GB. With a decent codec it can be reduced to 700mb. The chip on a modern chipcard can store 512kb. If that's the case...There is no way to encode the whole movie into 512 kb. It can never happen! Well, we are assuming that there are no "external" resources. That the movie gets "encoded" into some format and then decoded at the other side by some codec and played in a media player. Let's change a scenario a bit! Let's say that we have an "external" resource that is 1TB in size that contains all possible scenes and all what the chip stored was "pointers" to those scenes. What are your thoughts on this? Would you guys like to give it a shot at re-creating this? good course 😀