This compound is primarily utilized in the field of organic synthesis, particularly as a chiral catalyst or reagent in asymmetric reactions. Its unique structure, featuring a trifluoromethyl group and a pyrrolo-triazolium core, makes it effective in facilitating stereoselective transformations, which are crucial in the production of enantiomerically pure pharmaceuticals and fine chemicals. Additionally, it is employed in the development of advanced materials, where its properties can enhance the performance of specific applications, such as in liquid crystals or organic electronics. Its tetrafluoroborate counterion further stabilizes the compound, making it suitable for use in various reaction conditions.