Trustless Work
  • Welcome
    • Why Escrows Matter
    • ๐Ÿ›ค๏ธOur Journey so Far
      • ๐Ÿค”The Problem: Origins of Trustless Work
      • ๐Ÿ‘พThe team comes together
      • ๐Ÿ’กThe Solution: Escrows
      • ๐Ÿ†Key Milestones
        • ๐ŸŒ DraperU Stellar Astro Hacker House: A Pivotal Moment
        • Launching the API V1 at ETH Pura Vida Hackathon
      • ๐Ÿš€Current Programs
        • ๐ŸŒŸDraperU Embark Program
        • ๐Ÿ’ปOD Hack Campaigns
      • ๐Ÿ› ๏ธVertical Development
      • ๐Ÿ”ฎFuture Vision
  • ๐Ÿ“ŒStart Here
    • โ˜€๏ธAbout Trustless Work
      • Vision and Mission
      • Team
  • โš’๏ธUnderstanding Smart Escrows
    • ๐ŸฅธSmart Escrow Design
      • What does a Smart Escrow "look like"?
      • Roles in Trustless Work
      • Escrow Lifecycle
        • Initiation Phase
        • Funding Phase
        • Complete phase
        • Approval phase
        • Release phase
        • Dispute Resolution
    • ๐Ÿ’ตUSDC: The Stablecoin Powering Trustless Work
    • ๐ŸŒŸStellar & Soroban: The Backbone of Trustless Work
  • ๐Ÿ’ปDeveloper Resources
    • Introduction
    • Schema
    • Types
      • Basic
      • Entities
      • Payloads
      • Responses
      • Errors
    • Quickstart
      • Integration Demo Project
        • Getting Started
        • Configuration
        • Context API
        • Wallet Setup
        • Trustlines
        • Services
        • Helpers
        • Error Handling
        • Forms
          • Initialize Escrow
          • Fund Escrow
          • Get Escrow
          • Get Multiple Escrow Balances
          • Resolve Dispute
          • Change Milestone Status
          • Change Milestone Flag
          • Change Dispute Flag
          • Release Funds
          • Update Escrow
        • UI Components
          • Pages
          • Cards
          • Tabs
          • Utils
    • Authentication
      • Request Api Key
    • API Reference
      • Deploy
        • Initialize Escrow
      • Escrows
        • Fund Escrow
        • Get Escrow
        • Resolve Dispute
        • Change Milestone Status
        • Change Milestone Flag
        • Start Dispute
        • Release Funds
        • Update Escorw
      • Helpers
        • Set Trustline
        • Send Transaction
        • Get Multiple Escrow Balance
    • React Library
      • Getting Started
      • useSendTransaction
      • useGetEscrow
      • useGetMultipleEscrowBalances
      • useInitializeEscrow
      • useUpdateEscrow
      • useFundEscrow
      • useChangeMilestoneApprovedFlag
      • useChangeMilestoneStatus
      • useReleaseFunds
      • useStartDispute
      • useResolveDispute
    • ๐Ÿš€Smart Escrow API
    • ๐ŸงฐEssential Tools for Developers
      • Stellar Wallets
        • Freighter Wallet
        • Albedo Wallet
        • xBull Wallet
        • Rabet Wallet
        • Lobstr Wallet
        • Hana Wallet
        • Additional Resources
        • Troubleshooting & FAQs
      • How to Get Testnet Tokens
  • ๐ŸŒUse Cases by Industry
    • Marketplaces & E-commerce
    • Grants, Bounties, and Hackathons
    • P2P Exchanges and OTC Desks
    • Security Deposits
    • Milestone-based Freelance & Contract Work
    • Crowdfunding & Pre-orders
    • DAO Treasury & Working Group Budgets
    • Education & Online Courses
    • Subscription + Performance-based Retainers
  • ๐Ÿค–Using the dApp
    • Step 1: Accessing the Trustless Work Dapp and Logging In
    • Step 2: Creating a Profile and Requesting an API Key
    • Step 3: Creating an Escrow
    • Step 4: Funding an Escrow
    • Step 5: Marking a Milestone as Done โœ…
    • Step 6: Approving the Milestone
    • Step 7: Releasing the Payment
    • Resolving Disputes
  • ๐Ÿดโ€โ˜ ๏ธCommunity
    • ๐ŸŒŽSpotlight: Kindfi
    • ๐Ÿ›ฃ๏ธRoadmap: The Journey Ahead
    • Contributor's Guide
    • ๐Ÿ“‚Open-Source Templates & Developer Tools
  • โœ’๏ธBackground & Theory
    • ๐Ÿ“˜Core Concepts & Escrow Glossary
    • ๐ŸŽ’Historical Context
      • ๐Ÿ“œEscrow History:
        • ๐Ÿ—ฟAncient to Colonial Era
        • ๐ŸฆBanking Era (19th - 20th Century)
        • ๐Ÿ’ปThe Digital Era and Online Escrow
      • โ›“๏ธBlockchain Era: Smart Escrows
  • Links
    • โš’๏ธTrustless Work dApp
    • ๐ŸŒTrustless Work Website
    • ๐Ÿ“ฃTelegram Chat
    • ๐Ÿ’ŽOnly Dust Profile
    • ๐Ÿ‘ฉโ€๐Ÿ’ปSwagger for API
    • ๐Ÿ“œGithub
  • ๐Ÿ“ขAppendices
    • Contact and Support
    • Notion for Startups
    • Meru
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On this page
  • ๐Ÿ—ฟ Ancient to Colonial Era
  • ๐Ÿฆ Banking Era (19th - 20th Century)
  • ๐Ÿ’ป The Digital Era and Online Escrow
  • ๐Ÿ”— Blockchain Era: Decentralized Escrows

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  1. Background & Theory
  2. Historical Context

Escrow History:

PreviousHistorical ContextNextAncient to Colonial Era

Last updated 5 months ago

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Escrow has evolved from simple trust-based agreements between ancient traders to sophisticated smart contract systems on the blockchain. Here, we take a journey through the history of escrow and how it adapted to meet the needs of an ever-changing world.

Explore each stage of escrowโ€™s history:

๐Ÿ—ฟ Ancient to Colonial Era

From its birth in ancient civilizations to its formalization in medieval England and spread to colonial America.

๐Ÿฆ Banking Era (19th - 20th Century)

The rise of banks formalizing escrow for mortgages, industry, and railroads.

๐Ÿ’ป The Digital Era and Online Escrow

The transformation during the late 20th century with the rise of online commerce.

๐Ÿ”— Blockchain Era: Decentralized Escrows

How blockchain and smart contracts revolutionized trust, making escrow programmable and trustless.

โœ’๏ธ
๐ŸŽ’
๐Ÿ“œ
Explore the Early Origins
Discover the Role of Banks in Escrow
Read About Online Escrow Services
Dive Into the Blockchain Era