You are using the terms a bit arbitrarily, so I’m not entirely certain what you mean in particular.
Color blending is necessary for any operation that creates mixtures of different colors and of course Krita does that. But I think what you’re asking is if Krita can make the blending behave much more like real color pigment. Unfortunately no, that’s currently not really possible, it would require a more complex spectral sampling absorbance / reflectance color model. That was discussed in this thread here:
Despite the title, working in the CMYK color model (which is already in Krita) is not enough. One of the MyPaint developers, Brien Dieterle, explains in detail how they do it in their application. There is a comparison in post number 7, spectral blending in the second image.