Algorithmic IS on the sensor output

Is it possible to develop an "algorithmic stabilization software" removing some motion blur from the output of the sensor, based on the camera motion?

Still keeping the additional benefit of the optical IS (if any) of the lens mounted?

Eventualy by reducing the final amount of pixel in the picture produced, like the "Powered IS" introduced by Canon in their Camcorder line up.

May be that's just a dream?
--
Philippe

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