Blockchain.info Wallet Launch
Blockchain.info (now Blockchain.com) launches its hybrid web wallet, making self-custody accessible to the masses.
In early 2012 (often cited as January/February), the block explorer service Blockchain.info launched its "My Wallet" service. This was a revolutionary product: a browser-based wallet that encrypted the private keys client-side (in the user's browser) before sending the encrypted blob to the server.
This "Hybrid" model meant that Blockchain.info could not steal user funds even if they wanted to (unlike Mt. Gox or Coinbase). For 2012 users, this was the perfect middle ground: the convenience of a web login with the security of non-custodial ownership. It became the de facto standard for mobile and web usage, onboarding millions of users who were too intimidated to run the full Bitcoin-Qt node.