Idea of the day - wikipeida for structured knowledge

I was talking in a co-worker who is developing tools to permit people to edit semantic information. It reminded me of CYC an attempt to create a comprehensive ontology of common sense knowledge. 


Personally I've always been sceptical of these kinds of attempts to create formally verifiable structured knowledge. 


That aside I mentioned to the co-worker that perhaps what someone should do is to build a crowd source engine - like Wikipedia. The engine would have enough tools to permit people to enter information in the network of knowlege directly. I guess something like DBpedia ( but being explicitly written rather than extracted from wikipeida ). 


Perhaps its already in existence you see a lot of projects like this ( FreeBase, Open Cyc) - perhaps FreeBase is it( except that's commercially owned right?).