Startup Idea : Sound proofing in mobile

While we are speaking with someone in phone we find lot of disturbance in background if other person is in busy place.I thought that it will be good if we have any application that receives only the sound that is received by microphone only from some distance (which we can set in the settings) or only the sound of the speaker by recognizing that person's voice which is already stored (similar to voice recognition) and this happening in both sides like both the speakers hear clear voice of each other. I don't know whether this idea is possible or not practically, but I thought if we have anything like this will be helpful for everyone.