The average Christian knows that under the Law forgiveness was attained by sacrifices. The Jewish people were given all the requirements for offering the correct sacrifice for their sins. Then, once a year, the high priest would offer the Day of Atonement sacrifice for the entire nation. This system was a "blood economy." Only blood could pay for their sins.
The New Covenant is also a "blood economy." Jesus shed His blood to pay for our sins. But what is the difference between the Old Covenant blood economy and the New Covenant blood economy?