Comparison to local dbs like cdb, sparkey, mapdb, gettext files etc. -- hammerspace is a gem that uses sparkey under the hood, so these solutions are more or less one and the same. The difference is that hammerspace exposes a ruby hash-like API to make integration with existing applications easier. It also provides concurrent writer support, which many local dbs don't do.
Whether it's a good idea or not is for you to judge -- we've open sourced the gem in hopes that it will be useful to someone, just as sparkey and gnista were useful to us.