Haven't we gone through this at length at the XBox One reveal? This is exactly what MS had planned.
Flaws:
- You need an online check to see if the disc is locked and to link and unlink it to an account. MS' plan was to charge a percentage from the resale, for unlocking the disc from your account.
- This blocks any private online reselling. There are no guarantees that a disc you buy on Ebay is unlocked.
- Stores need to be able to check discs. This was a planned service by MS, yet only for select big retail chains.
- The 24h check was required to make sure that when a store removes a disc from your account, you will not be able to play it anymore.
It all leads to non ownership of the disc and it simply becomes a rental with MS dictating what you can and can't do with that disc.
For the above scheme each disc needs to have a unique identifier, and all participating stores need access to an online database and be able to check and unlock discs. A lot of extra costs.