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The difference between the Old Testament Abrahamic covenant and the new
covenant of grace is that under the old covenant, no faith was needed to receive
God’s promises. All that was necessary was to be a descendant of Abraham by blood.
Under grace, belief in what Jesus did is the only requirement to receive the
promises. This radically impacts every area of our lives. Under the old covenant,
only certain people were eligible to be blessed; everyone else was excluded. Under
grace, all who believe are blessed. Every division and limitation is erased in Christ,
and we are equal in Him. The blood of Abraham is no longer necessary to inherit the
blessings when we have the Spirit of Christ.