This idea is most definitely possible, and interesting. there is an encoding format known as optar which you should google, I'd love to chat to you about this. The biggest caveat with this sort of format is that the medium is of course prone to corruption, far worse than vinyl or tape, and reading it back requires quite a bit of knowledge. Also, for this encoding a laser printer is a must, inkjet is a no-go because its resolution and accuracy is untenable.