By default, the most recent Version of a Resource is displayed in a folder, and is available for download and sharing via the email link options.
Version Control applies to Resources only and can be configured in the Main Admin settings under Settings > Versions. Versions can notably be made mandatory or optional.
Under Admin > Groups > Permissions > Rules, Main Administrators can enable or disable the Version Control module for select user groups. If disabled, these users will not be able to see the version number of an item, nor access previous versions. They will however still be able to create new versions when uploading.
Users with Admin on Version Control can also delete all previous versions of items.