This chemical is primarily utilized in the field of asymmetric synthesis and catalysis. It serves as a chiral ionic liquid or catalyst, enabling the production of enantiomerically pure compounds, which are crucial in the pharmaceutical industry for developing drugs with higher efficacy and fewer side effects. Its unique structure allows it to facilitate stereoselective reactions, making it valuable in the synthesis of complex organic molecules. Additionally, it can be employed in advanced material science for designing chiral materials with specific optical or electronic properties. Its stability and solubility in various solvents enhance its versatility in organic synthesis and industrial applications.