This compound is primarily utilized in the field of asymmetric catalysis, where it serves as a chiral ionic liquid or catalyst. It is particularly effective in facilitating enantioselective reactions, which are crucial for producing optically active compounds in pharmaceutical synthesis. Its structure allows it to stabilize transition states and enhance the selectivity of reactions, making it valuable in the production of chiral drugs and fine chemicals. Additionally, its ionic nature enables its use in green chemistry applications, where it can be recycled and reused, reducing waste and improving sustainability in chemical processes.