I've seen your previous question about projecting lights on the street using lasers. Well I guess its possible if you are willing to use holographic image projectors.
And incase of virtual reality you can create identical environment of the real world and add walls where it's necessary, google 360 image has all the pictures of our surrounding, their technology is capable of producing identical virtual world for the (NIGHT ) blind people who cant see in low light.
And I have thought about moving objects , specially transports, cars, buses, etc. The augmented world you will create will have gps that tracks cars, if not possible for all the car, the driver whose carrying or the passengers have cell phones which has GPS in it can notify the blind people about the moving object because the gps in always working.
It's just a concept, you cant build a project with your own hands but if you are participating in any competition you use this concept by developing this core concept. I Hope it helps. Thanks IN ADVANCE ! and the answer is yes. Possible