By placing us in Christ Jesus, God included us in His covenant when He and the perfect man, Jesus Christ, agreed to covenant together.
An agreement, or contract, or pledge were insufficient to accomplish what was in God’s heart and achieve what He desired. Only one instrument was of sufficient legal force to bind God’s heart and our hearts inseparably. And, this type covenant exists in perpetuity.
By design, a blood covenant is irrevocable and unalterable. Further, in the case of the covenant spoken of between God and Jesus, it was sworn to with an oath from God. Let me quote Malcolm Smith, “In the new covenant that God makes with us, He swears by Himself; He is the guarantee both of the human and divine side that the covenant shall be made and kept. This is the absolute certainty that we have of the covenant: It is made and guaranteed by God. It is as sure and unchangeable as God is.”
It is significant that your Bible is comprised of an Old and a New Covenant (or, Testament). You need to know about covenants, given they are how God thinks! Your understanding is part and parcel of how you must view life and living...provided you wish to view life and living as God views life and living.
And what exactly are the terms of this covenant. In other words, who gets what?
A blood covenant is made between equals. It is unchangeable. It is irrevocable. It cannot be altered. It exists in perpetuity. And last, a blood covenant stipulates that each party gains everything of his covenantal partner.
This means that Jesus received everything that belongs to God, and this means God received everything that belonged to Jesus. Since we are in Jesus Christ, this means we are the beneficiaries of all of God. Conversely, this also means that God gets us since we are in Christ.
You are not your own. You were bought with a price and all of you—everything about you—belongs to God.
But neither is God His own, in a fantastic way. All of Him belongs to you.
You may find this awkward. Sensational, perhaps. In a way, it is this and more. But it is true. This is the way the mind of God is playing out His hand in blood covenant in/through Jesus Christ—and in/through you and me as well.
You may even find the magnitude of this too remarkable to embrace—seemingly—and wish to be selective about the covenantal agreement. I understand, but modification is not an option, at least not with a blood covenant. A blood covenant is irrevocable, unchangeable, unalterable, and it exists in perpetuity.
Our options are two: a) pretend the covenant isn’t so, or b) endeavor mightily to live in the magnitude of being a covenantal partner.
Personally, I have made a determination: I call upon the Holy Spirit, the one who is the pledge of the covenant, to exhibit through me and in me all the power of God indwelling my frailty. Never mind my stumbling and tripping. Never mind my bloody nose. Never mind my blurry vision.
My full intent is to march in step with the great figure who is my mentor, my family, my redeemer, and my brother, Jesus the Christ. After all, because I’m included in His covenant with God, and sealed with the pledge of the Spirit, this is what He expects of me, suffered exponentially to make available to me, and dwells in me to make possible.
To read about the blood covenant in depth, I highly recommend Malcolm Smith's, Power of the Blood Covenant.