Backup / Restore of a workspace

Automatically create backup for a workspace at a point in time (e.g., once per day, once per week) that users could revert to in case there were inadvertent changes to easily bring back deliverables, files, etc. To save storage would only need last 1-4 restore points. Short of this, can we have a trash bin to restore deleted items only and trash is cleared out every ~2 weeks