To explain more, for e.g., we hear that the USD was backed by the convertibility of this currency to precious metals until 1971. Now, what are altcoins backed by such as Ethereum or Litecoin? Are mathematical calculations performed by ASIC miners any useful in the real world?
Unfortunately, but ASICs was invented and is used exclusively for Bitcoin mining. It is possible that in the future somebody will find some other way to use these powerful processors, but at the moment they can only do one thing.