This is a technology that seems to have taken longer than necessary to get developed (the CD as a floppy). Still here's this article:
BOTHELL, Wash., Apr 4, 2002 (BUSINESS WIRE) -- Software Architects, Inc. (SAI) announced today the release of WriteCD-RW! Pro(TM) version 3.0 for MS Windows(TM)XP. WriteCD-RW! Pro is the first software in the world that formats, reads and writes discs in the new "Mt. Rainier" Format (also called "Easy Write" format) drives. The software also provides "drive letter access" read/write support for standard CD-RW drives. Mt. Rainier specification CD-RW drives are now shipping from several manufacturers. This new specification is expected to be adopted by most PC manufacturers during 2002.
WriteCDRW! Pro provides everything you need to format, read, write and reliably transfer discs between Mt. Rainier class and standard CD-RW drives, DVD-ROM and CD-ROM drives.
Use your CD-RW disc like a Floppy Disc