You can check on this article which will show you how to renew encryption key both online and offline:
How to Renew PS3 Encryption Key to Play the Latest Blu-ray Discs on it
If you still can't solve the problem and what you want to play are BD movies, you can rip the BD movie to digital movies. Or you can play the BD movies on a Blu-ray player program such as Leawo Blu-ray Player
You need to connect your PS3 to Internet and update the software to play the Blu-ray movie. You can either use Wifi or cable to hook PS3 to Internet. Or you can rip the Blu-ray movie to MP4 and put the MP4 video in a flash drive. As you know, PS3 can directly play MP4 videos from external storage devices. Insert the USB drive to your PS3 and then you'd be able to watch the MP4 video on it. Here's the tutorial for ripping Blu-ray to MP4: How to Rip and Convert Blu ray to MP4 with Blu ray to MP4 Converter
Http://manuals.playstation.net/document/en/ps3/current/settings/update.html
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