And according to the Law, one may almost say, all things are cleansed with blood, and without shedding of blood there is no forgiveness.Hebrews 9:22(NASB)
The old covenant, which the nation of Israel was charged to keep, was the Law of Moses. It was brought into effect with a blood sacrifice, and Moses charged the people: "This is the blood of the covenant, which God has commanded you to keep." Under the old covenant, almost everything and every person had to be purified by blood, however under the new covenant, something greater than purification took place: forgiveness of sins for humanity: "For without the shedding of blood (the blood of the sinless Son of God) there is no forgiveness of sins."
The old covenant was put into effect by Moses through the shedding of the blood of bulls and calves, and it remained in effect until the new covenant was brought to pass by Christ - at the Cross. Although perfect in content, the old covenant was a covenant of death, for it was conditional on man's obedience to God, and due to man's failure to keep God's perfect Law, it needed to be replaced with a new and better covenant.
The Lord had planned in eternity past to implement a new covenant - an unconditional covenant - a unilateral covenant - an eternal covenant, and God used the old covenant as a school-master to point us to Christ Who was appointed to be the testator of the new, unconditional, eternal, and better covenant.
Unlike the old covenant, all the conditions to be fulfilled by the new covenant were the responsibility of God alone, implemented with the death of the Lord Jesus Christ. All we have to do is to believe on the Lord Jesus Christ for the forgiveness of sins and life everlasting, and by His grace we have become ministers of the new and better covenant.
The new covenant was implemented at the Cross for all who believe on the Lord Jesus Christ in this Church dispensation. It will also become a reality for the nation of Israel on the day, yet future, when they cry, "Blessed is He Who comes in the name of the Lord." On that amazing day they will look on the One Whom they pierced, for He was also wounded for their transgressions, bruised for their iniquities, and shed His blood so that they too would participate in the new and better covenant.
Heavenly Father, thank You for the new and better Covenant that was inaugurated at Calvary’s Cross, knowing that without the shedding of Jesus’ sinless and precious blood there would have been no forgiveness of my sins. How I praise and thank You that Jesus died for me and gave me Your Holy Spirit to live Your life in me. Help me to live a life that is holy unto the Lord. In Jesus' name I pray, AMEN.