The Spanish company CineMartin claims to have developed software that makes it possible to rip a Blu-ray disc and convert it to 2% of its original size while retaining pretty much the same quality. The software converts a Blu-ray movie to a file encoded with HEVC H.265 in both MKV and MP4 containers. Cinemartin is probably not a very well known company to the average user as it mainly develops software targeted at professionals.
Something we pretty only see from companies outside Europe and the United States is a decryption function. On their website the company claims to be able to deal with both AACS and Cinavia, as they write on their site, "Cinemartin MyBD includes a sofisticated (sic) decryptor that will unlock almost any Blu-ray disc protection (including cinavia, aacs, etc..). "
According to the company they'll also save you some disk space as a spokesmen states, "a 32 GB Blu-ray can be converted to a 599 MB H265 video at Full HD with same resolution. MyBD offers 50% or more file size savings at same quality compared to current BD converters."
The software is available in two versions, a free and paid one. Unfortunately to download the free version you need to enter your personal details. The free version encodes to an HD Ready resolution of 1280 x 720 which can't be changed. The Pro version is faster and has more options to finetune the video quality.
Curious and want to try this software? Download it here.