While it is well expected that blockchain technology brings about a profound impact on the future of finance, but it is unclear how this will take place. What is the tradeoff between finance powered by mobile apps and big data, finance based on permissioned blockchain, and decentralized finance (DeFi)? They are different in many respects and have different roles to play in the future of finance. The DeFi industry has grown at a staggering pace in recent years. New, innovative and appealing DeFi tools and platforms are coming up regularly. In the meantime, legal risks, enforceability, compliance and liability issues loom large. The goal of this dialogue is to bring together some best minds to share frontier research, address critical issues, and provoke discussions related to blockchain technology that might reshape the future of finance.