The present invention provides a novel fluorescent molecule having formula 1 which exhibit emission color change when in contact with moisture useful for the preparation of fluorescent paper, allowing self-erasable writing, security label for document authenticity, check and prevention of currency counterfeit. Compound of formula 1, when coated on paper, results in blue emitting surfaces on which writing is possible using water as ink. The images undergo self-erasal after 6 hours making the paper reusable or instantly with hot air. The images are visible only on illumination with a UV lamp having wavelength 365 nm. The material can be coated on any document to create security label which changes color on touching with a wet surface or water pen and will go back to the native color when the moisture is dried off after a time frame.