This compound is primarily utilized in the field of organic synthesis, particularly as a catalyst or reagent in various chemical reactions. Its unique structure, featuring a perfluorophenyl group and a tetrafluoroborate counterion, makes it effective in facilitating reactions that require strong electrophilic or cationic intermediates. It is often employed in the development of pharmaceuticals and fine chemicals, where precise control over reaction pathways is crucial. Additionally, its stability and reactivity under mild conditions make it suitable for use in advanced material synthesis, including the creation of specialized polymers and coatings.