According to the current plans for Walrus, there are updates planned to expand the operations and tools for storage-related use cases. However, as of now, it specifically doesn't re-implement full smart contract platforms or a distributed key management system for encrypted data. Therefore, Walrus can store any blob, including encrypted blobs, but it does not inherently support real-time dynamic data storage without some form of external handling or integration.

Walrus is designed to support decentralized storage services, making it possible to handle media for various applications like NFTs and dApps. It offers robust storage solutions but relies on Sui smart contracts for managing the resources and processes. These systems may allow you to indirectly manage dynamic data storage by using scheduled blob updates or other strategies.