Based on the person and work of Christ
The Christian faith is one that is solely based on the redemptive work of Christ, the unique God-man. This is He of whom God promised in Genesis 3:15, declaring Him to be the “seed of the woman” when he pronounced judgement upon Satan. He is also the the “seed of David”, emphasizing His Davidic lineage through the virgin Mary. He is also the eternal Word of God and the only begotten the Son of God (John 1:1, 14), who dwelt in the Father’s bosom from eternity. This is the unique God-man, who alone accomplished redemption and made Himself the Way to God. The Christian faith uniquely rests upon Him.
Infallibility of the Scriptures
Scriptures are the Word of God, spoken by Him in many ways and many portions (2 Tim 3:16, Heb 1:1), inspired by the Holy Spirit and spoken through His chosen ones. They are infallible, but inherently veiled to those without spiritual revelation. The Christian faith in a doctrinal sense is also based on the Scriptures, which is the accepted canon in any of its three main forms (Protestant, Catholic and Orthodox)
The protestant view of the infallibility and the sole authority of Christian doctrine is encapsulated in the Latin term, Sola Scriptura, which speaks to the idea that all our doctrinal beliefs must have its origins from the Scriptures and nothing else. In contrast, the Roman Catholic and Orthodox traditions hold that in addition to the Scriptures, “sacred tradition” should be also be a guiding factor in doctrinal interpretation.
My own view on this is a bit nuanced. I do believe that it’s appropriate to take into account the collective Christian experience in doctrinal interpretation and beliefs, provided they do not contradict the Scriptures.
Collective Christian Experience
What is the role of collective Christian experience in doctrinal interpretation and beliefs? Outside of Christ’s work and person and the Scriptures, the collective Christian experience can add an enriching dimension to doctrinal understanding and the truths unveiled in the Bible. However, we must be careful that these in no way contradict the Scriptures. If they do, we can be assured that their source is not of God. Even when they do align with the Scriptures, we must carefully examine them lest we get blown off course by the “wind of teaching” (Eph 4: 14)
In summary, the Christian faith is based on the person and work of Christ. From a doctrinal sense, it is also based on the Scriptures. In addition, the collective Christian experience can also add an enriching dimension to our doctrinal understanding of the Scriptures with the proper balance.