Is there a way that multiple people can work on the same folio?
I would say yes.
Different people can connect to a same folio through their own Folio Builder Panel to work in the same folio (if not a local folio).
But they can't share articles, in my opinion.
Yes it is possible. Just set up the same software and configuration on two or three Mac/PCs and then put all the assets of a project on a local or remote server (I use DropBox so it is also available remotely).
I use this technique to upload heavy folios containing dozens of articles.
Mac 1 uploads articles from 1 to 30
Mac 2 uploads articles from 31 to 70
Mac 3 (which could be in an external location) uploads articles from 71 to 110
All three use the same Adobe ID so everything goes in the same folio.
Result: I divided the uploading time by 3.
Remember: the Folio Builder panel is only a window that shows you what happens on the Folio Producer server at Adobe's. There is no folio stored locally on a machine unless you specified it.
When I write "Just set up the same software and configuration on two or three Mac/PCs" it means: be sure that you also load the fonts, the same Color Settings,... on all the machines. Open a few files just to check there is no warning box upon the opening of a document.
I usually work with a friend on my folios. We work directly from a dropbox folder, and both of us have created a user with the same name on our macs. This gives us the same path to the folder, so we never need to relink when we work together from that user account. Works great.