Question: what is the significance of the New Covenant?
As you know, Jesus instituted the “New Covenant” in His Body and Blood, at the last Supper with His disciples!
On the night before he was crucified, Jesus celebrated one last Passover meal with his disciples. Jews ate this meal annually to celebrate God's deliverance from Egyptian bondage. On this night, Jesus used elements of the meal to institute a new remembrance, bread to remember His Body and wine to remember His Blood.
Because the Jews do not accept that Jesus is their Messiah, the “New Covenant” is delayed its confirmation for the Jews, until the events of Jeremiah 31:31–33!
This cannot take place until after the events of Zech.12:10.
As regards the Gentiles of the World, they have been able to participate in the Celebration of Christ’s Sacrifice for the forgiveness of their sins since the time of Acts, and are then able to enter His Body for eternal life!
See: Covenants of God (Study)
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