In a medium pot over medium heat, add the olive oil and sauté the diced onion and green bell pepper until they begin to soften and develop a slight char.
Add the ground beef to the pot, breaking it up with a wooden spoon, and cook until it is fully browned and no longer pink.
Stir in the smoked paprika, chili powder, cumin, sea salt, and black pepper, coating the meat and vegetables thoroughly in the aromatic spices.
Pour in the tomato puree, rinsed black beans, and water, stirring to combine all ingredients into a thick, hearty mixture.
Reduce the heat to low and let the chili simmer for 10-15 minutes, allowing the flavors to meld and the sauce to thicken into a rich consistency.
Serve warm in a bowl, optionally garnishing with fresh herbs if desired.