yes, blood fulfills the function of carrying oxygen/nutrients to tissues and also carrying wastes out. The problem is the immune system of the receiving organism might see it as a potential invader. If somehow this organism’s immune response was disabled, there seems no reason why this wouldn’t work..
I think providing pathogenless environ is practically impossible today. So, What if we can remove the dog’s self mrkers from the cells? I have heard that scientist R working on a homologus situation where they R trying to produce blood which lacks Ags of ABO system.