Escrow History:
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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 escrow’s history:
From its birth in ancient civilizations to its formalization in medieval England and spread to colonial America.
The rise of banks formalizing escrow for mortgages, industry, and railroads.
The transformation during the late 20th century with the rise of online commerce.
How blockchain and smart contracts revolutionized trust, making escrow programmable and trustless.