Cofounder of Wikipedia, Larry Sanger is working on a Wikipedia based project

The new project is named Citizendium (sit-ih-ZEN-dee-um), a "citizens' compendium of everything" and it will be an experimental new wiki project that combines public participation with gentle expert guidance. 

The new encyclopedia will begin with all of Wikipedia's articles, so that the Citizendium will begin as, simply, a mirror of Wikipedia.  Then people start making changes to articles in the Citizendium.  On a very regular basis, the copies of Wikipedia articles are refreshed.  Larry says he expects it to take on a life of its own and, perhaps, to become the flagship of a new set of responsibly-managed free knowledge projects. 

Larry believes the new project is justified, both to allow regular people a place to work under the direction of experts, and in which personal accountability--including the use of real names--is expected.  In short, he wants to create aresponsible community and a good global citizen.

The Citizendium will be launched as soon as possible, meaning within a few weeks at most.