NASLite Network Attached Storage

HI,
I'm a french windows user and and like to use a NAS.
I'm totaly discovering linux world, and by discovering I mean I'm a windows user.
So my question is, is it possible to encrypt partition, I explain my purpose :
I'd like to use a NAS as a large storage repository but using file by streaming in my local area. I'd like to boot on the nas floppy and automaicaly send the passprhase to made my partition decypted and redeable throught network ( ex. streaming through my XBOX without to have entering a passphrase to the XBOX).Then removing the floppy and let le NAS live.
First, is that possible ?
Second, if i remove the floppy, reboot the computer, will there be any information on the memory accesible like the passphrase ?
Thanks by advance for helping.
P.S. : If I'm not clear on some points, please just ask.

Hy,

not with NasLite itself, but with a Tool Like Truecrypt.

Link: http://www.truecrypt.org/