Perhaps the first system with complete threshold properties for a trapdoor function (such as RSA) and a proof of security was published in 1994 by Alfredo De Santis, Yvo Desmedt, Yair Frankel, and Moti Yung.
[1] Historically, only organizations with very valuable secrets, such as certificate authorities, the military, and governments made use of this technology.
[3] In March 2019, the National Institute of Standards and Technology (NIST) conducted a workshop on threshold cryptography to establish consensus on applications, and define specifications.
[4] In July 2020, NIST published "Roadmap Toward Criteria for Threshold Schemes for Cryptographic Primitives" as NISTIR 8214A.
This makes the method a primary trust sharing mechanism, besides its safety of storage aspects.