The New Covenant

It is by the act of baptism in the name of Jesus for the remission of sins that a person enters into a blood covenant with God. 

"For this is my blood of the new testament [new covenant], which is shed for many for the remission of sins." - Matthew 26:28 

Prophesied by Jeremiah:

"But this shall be the covenant that I will make with the house of Israel; After those days, saith the LORD, I will put my law in their inward parts, and write it in their hearts; and will be their God, and they shall be my people. And they shall teach no more every man his neighbour, and every man his brother, saying, Know the LORD: for they shall all know me, from the least of them unto the greatest of them, saith the LORD: for I will forgive their iniquity, and I will remember their sin no more." - Jeremiah 31:33-34 

We know the Lord when we are filled with His Spirit. Our sins are remembered no more when we are baptized in the name of Jesus.

In the Old Testament [Old Covenant] the blood covenant was circumcision.

In the New Testament [New Covenant] our blood Covenant is water baptism in the name of Jesus. 

"In whom also ye are circumcised with the circumcision made without hands, in putting off the body of the sins of the flesh [our old sinful nature] by the circumcision of Christ: buried with him in baptism, wherein also ye are risen with him through the faith of the operation of God, who hath raised him from the dead." - Colossians 2:11-12 

In the Old Testament, if a man was not circumcised, he was cut off from the people of God. 

"And the uncircumcised man child whose flesh of his foreskin is not circumcised, that soul shall be cut off from his people; he hath broken my covenant." - Genesis 17:14 

When we are baptized in the name of Jesus we enter into a blood covenant with Him and become part of the family of God. 

Just as the flesh is cut off in circumcision, our sinful nature is cut off by repentance and baptism in the name of Jesus. Our sins are cut off/washed away/remitted/forgiven. 

At circumcision, the eight day old baby receives his name. At baptism we receive our spiritual name, Jesus.