Daenerys and dragon

Daenerys and one of her baby dragons.

In the last episode of season one, Fire and Blood, upon seeing Daenerys Targaryen rising from the ashes of the funeral pyre with her three baby dragons, Ser Jorah Mormont exclaims: "My blood is your blood!" and then bows before Dany.

I keep wondering what he means by that remark. Is it meant as a sign of his allegiance, as in: 'Your will is mine' / 'I succumb to you', or does he actually refer to blood lines?