Security firm Silent Circle has unveiled the world's first smartphone that is "private by design," according to its website. Dubbed as the Blackphone 2, it promises a faster and safer device in comparison with what is available in the market today.

The second generation Blackphone is an Android device running the latest Lollipop operating system. It is distinguished by a software modification that encrypts applications and the phone itself by default. Here, users are able to control the kind and amount of personal data that are communicated to apps and websites via a dedicated Security Center.

"At the moment it's often about accepting everything or denying all the app permission requests," David Puron, head of engineering at Silent Circle, told BBC News. "We wanted it to be more fine-grained than that."

Aside from the data permissions, owners of the Blackphone 2 can also set up virtual spaces that have different app permissions. For instance, they can create "spaces" for work, personal use or when used by children. This function is complemented by the ability to wipe the phone remotely. Silent Circle also promises to upgrade or update the operating system 72 hours after bugs and issues are reported.

The Blackphone 2 is now available in the market for $799. It is a bit steep, but the specs could go head to head with Android flagship devices today. It runs on an unnamed Qualcomm processor and 3GB of RAM, according to Tech Times. It sports a 5.5-inch 1920x1080 pixel display, 13MP rear-facing camera and an expandable storage.

For those wondering whether the Blackphone 2 is the ultimate "unhackable" phone, the answer is no. Silent Circle itself does not pretend that it is the case. Rather, the value proposition is that it has the technology that can secure user data better than any other smartphone today.