It's an interesting thought experiment. The biggest obstacle may be trying to figure out how to replicate their system of allowing anyone to edit a page and establishing a hierarchy of editors who can overlook pages. Flawed as their system can be, it's be rough to copy that.
That said, certainly Wikipedia could benefit from some kind of decentralized structure. It is such an amazing resource, but what happens if the Wikimedia Foundation were to suddenly be removed?
Anyway, good look at how it could be possible to make a similar project!
!PIMP
You must be killin' it out here!
@dbooster just slapped you with 1.000 PIMP, @taskmaster4450.
You earned 1.000 PIMP for the strong hand.
They're getting a workout and slapped 1/2 possible people today.
Read about some PIMP Shit or Look for the PIMP District