Used as a chiral derivatizing agent in asymmetric synthesis, enabling the formation of enantiomerically pure compounds. Its rigid binaphthyl backbone provides excellent stereocontrol in catalytic reactions, particularly in the development of chiral ligands for transition metal catalysts. Widely applied in pharmaceutical synthesis where chirality is critical for biological activity. Also employed in the preparation of chiral polymers and sensors for enantioselective detection of biomolecules.