We describe a coordinate-free notion of conformal nets as a mathematical model of conformal field theory. We define defects between conformal nets and introduce composition of defects, thereby providing a notion of morphism between conformal field theories. Altogether we characterize the algebraic structure of the collection of conformal nets as a symmetric monoidal tricategory. Dualizable objects of this tricategory correspond to conformal-net-valued 3-dimensional local topological quantum f...