I need to know the following suggestion is technically possible.
say we have a data encryption key generate mechanism which is capable of generating keys. but this method should generate key backward compatibility, meaning the second key should capable to decrypt data encrypted using the first key & the third key should capable to decrypt data encrypted using second key or first key etc. But first key cant decrypt data encrypted using Key2 and Key2 and Key1 cant decrypt data encrypted using Key3..
I don't really know any specific encryption methods but if the encryption key was generated of a time code that might be a starting point. Problem is that I'm assuming you need to make sure someone can't just generate a new code with a machine that's set to a future time and decode the new key (using their own even newer key).
I imagine it's possible, do some reading...